The cryptocurrency market has been witnessing significant price movements, with two tokens in particular exhibiting notable surges: ONDO and NEO.
Both cryptocurrencies have experienced notable gains, with ONDO surging by 17.48% and NEO by 21.10% in the past 24 hours. In this article, we will delve into the factors contributing to the price pumps of these tokens and explore the insights shared by industry experts.
What you'll learn 👉
ONDO: Demonstrating Incredible Strength
In the current market conditions, ONDO, the native token of the Ondo DAO, has been a standout performer. The token’s price has risen from $0.7795 to $1.02 in the past 24 hours, showcasing its resilience and potential.
AltCryptoGems, a prominent crypto analyst, chose ONDO as a focus due to its incredible strength, and the decision has paid off with a 67% increase since entry, making it one of the top performers in the market.
About Ondo
The Ondo DAO empowers ONDO token holders to shape the future of the organization, ensuring it continues to pursue its mission of democratizing access to institutional-grade finance. ONDO holders are granted specific rights pertaining to Flux Finance, which is currently governed by the Ondo DAO.
Price Prediction
Paik Capital, another respected analyst, believes that ONDO’s price will continue to surge, potentially reaching $3 to $4 on a parabolic move upwards. The analyst cites Ondo’s focus on real-world assets (RWA) and Tether’s efforts to build out new rails as factors contributing to the token’s credibility and growth potential.
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NEO, often referred to as the “Chinese Ethereum,” has also experienced a significant price surge, trading above the 200-week moving average for the first time in nearly two years. The token’s price has climbed from $16.87 to $23.27 in the past 24 hours, representing a 21.10% increase.
Hong Kong Spot ETF News
Analyst Ace notes that investors have largely overlooked NEO’s potential, despite the widespread coverage of Hong Kong’s approval of spot crypto ETFs.
Technical Analysis
Several analysts have shared their technical analysis of NEO’s price action. Alax notes that NEO has already broken out of a wedge pattern on the weekly timeframe, indicating the potential for a 100%+ gain. Similarly, Alice Crypto highlights that NEO is following the predicted path, already yielding substantial gains of up to 100%+. The analyst also suggests that NEO could experience an additional 30%+ gain, supported by increased trading volume.
The recent price surges of ONDO and NEO have generated significant interest within the cryptocurrency community. ONDO’s incredible strength and focus on real-world assets, coupled with Tether’s infrastructure development, have positioned the token for potential parabolic growth. Meanwhile, technical analysis suggests further upside potential for NEO.
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