ONDO has regained its pre-crash price after enduring one of the largest liquidation events in crypto history. The token’s recovery, coupled with ongoing announcements at the ONDO Summit, has fueled speculation of a potential bullish rally.
If macroeconomic conditions remain stable, analysts suggest ONDO could see an upward movement in the coming weeks. ONDO has bounced back to its break-even level of $1.08373, a crucial support zone where the asset previously found stability.
Crypto analyst Niels highlighted in a recent tweet that ONDO is consolidating between $1.08 and $1.50, suggesting accumulation or preparation for a breakout. The next major resistance lies at $2.14803, with a potential extension target at $2.43752, based on Fibonacci analysis.
$ONDO is now back at our break-even price
— Niels (@Web3Niels) February 6, 2025
Biggest liquidation event in crypto history, and ONDO is back to its pre-crash levels.
ONDO summit is also ongoing with massive announcements and partnerships.
If the macro conditions don't worsen, ONDO could pull a massive rally from… pic.twitter.com/2nDPu5nQsm
The recovery signals renewed confidence among investors, particularly after the market-wide liquidation event that saw billions in positions wiped out. With ONDO now stabilizing above pre-crash levels, traders are watching for signs of a breakout.
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ONDO Summit Boosts Market Sentiment
The ongoing ONDO Summit has played a crucial role in the asset’s recovery. Key partnerships and announcements have provided additional bullish momentum.
While specific details of these announcements remain under wraps, market participants anticipate that strategic collaborations could propel ONDO further.
Market analysts note that project-specific developments often act as catalysts for price movement. As ONDO positions itself as a significant player in the crypto space, further positive updates from the summit could strengthen investor sentiment and contribute to a potential rally.
Read also: Monero (XMR) Price Hits Critical Resistance – Key Levels to Watch
Institutional Interest in ONDO Remains Strong
Despite a 15% decline over the past week, ONDO continues to attract institutional interest. The token trades about $1.40 at press time according to CoinGecko.
Blockchain tracking platform Spot On Chain reported that World Liberty Financial (@worldlibertyfi) recently swapped 470,000 USDC for 342,000 ONDO. This move indicates strong confidence in ONDO’s future performance, as the firm actively buys the dip despite short-term market corrections.
World Liberty Financial (@worldlibertyfi) swapped 470K $USDC to 342K $ONDO 20 minutes ago.$ONDO has dropped 15% in the past 7 days, but they seem very bullish on the altcoin, continuing to buy the dip.
— Spot On Chain (@spotonchain) February 6, 2025
Follow @spotonchain and set alerts for more updates about #WorldLibertyFi… https://t.co/6re2FBCw14 pic.twitter.com/Awr8smKRGb
Institutional accumulation often signals long-term optimism, and World Liberty Financial’s latest purchase aligns with this trend. Investors are now monitoring whether further acquisitions will follow, reinforcing ONDO’s position as a promising asset amid market volatility.
With ONDO consolidating and institutional investors accumulating, attention is now on the key resistance level at $2.14803. A breakout beyond this level could open the path to $2.43752, aligning with the Fibonacci extension target.
However, macroeconomic stability will play a significant role in determining ONDO’s trajectory. If external conditions remain favorable, analysts believe ONDO has the potential to stage a substantial rally, further solidifying its recovery from recent market turmoil.
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