Long

bullish

when

Million

<p><a href="https://www.thecoinrepublic.com/price-prediction/ondo-finance/" rel="noopener noreferrer nofollow">ONDO</a> price was in a corrective phase. It has corrected by over 50% in the last two months. The recent downturn occurred when the ONDO token price faced rejection from the $0.8000 mark.</p>
<p>Last week, a double top formation was observed. Then, the bear army showed their strength and pushed the ONDO crypto below the key moving averages.</p>
<p>When writing, it was heading to retest the previous month low of $0.5500 and guiding bearish cues. Amid the sustained downtrend, the sellers have maintained their upper hand. They still looked confident in adding further short positions.</p>
<p>Despite this setback, the price action hinted that the correction might end, and the <strong>ONDO crypto</strong> can see a bullish reversal soon. To do this, the ONDO bulls must surpass the channel’s upper trendline barrier of $0.6000 to beat the bear cartel.</p>
<h2 class="wp-block-heading" id="h-ondo-price-prediction-more-bearishness-ahead"><strong>ONDO Price Prediction: More Bearishness Ahead?</strong></h2>
<p>On the daily chart, there were indications of a potential bullish momentum. The RSI line was on the verge of crossing the signal line, and a bullish crossover looked near.</p>
<p>Similarly, the MACD indicator suggested a short-term bullish reversal can be seen in the coming sessions.</p> <iframe loading="lazy" title="Santiment Chart: Price (ONDO), Volume (ONDO)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ondo-finance&amp;pt=ONDO&amp;df=2024-03-07T18%3A29%3A59.453Z&amp;dt=2024-09-07T18%3A29%3A59.453Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%2212h%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Amid no clear directional signal, the crucial factor for the <strong>ONDO price</strong> bounce has been observed by the day-by-day volume surge. It signals the investors’ growing interest.</p>
<p>This relatable upsurge in the trading volume might fuel the trend reversal in the coming sessions.</p>
<p>Bandhan Sharma Maverick Trader (@wickhunterr), in his tweet, mentioned that the ONDO token’s price is heading toward its key support zone of $0.45, which is the best buy zone.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ONDO</a><br><br>We are approaching that level 0.45-0.36 would be the best buy for this gem! <a href="https://t.co/4LelnIGejW" rel="noopener noreferrer nofollow">pic.twitter.com/4LelnIGejW</a></p>— Bandhan Sharma Maverick Trader (@wickhunterr) <a href="https://twitter.com/wickhunterr/status/1831741326863319368?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>At press time, ONDO crypto price exchanged hands at $0.5849 with an intraday surge of over 1.46%. The surge comes with a rise of over 68% in the trading volume. It gave a strong conviction that buyers are looking for a significant reversal in the coming sessions.</p>
<h2 class="wp-block-heading" id="h-decline-in-popularity"><strong>Decline In Popularity</strong></h2>
<p>Amid the consistent price correction, the investors were not looking very confident in buying ONDO. That resulted in less chatter and discussions for it on social media platforms. A declining social dominance activity implied a low media buzz for ONDO.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (ONDO), Social Dominance (ONDO)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ondo-finance&amp;pt=ONDO&amp;df=2024-03-07T18%3A29%3A59.453Z&amp;dt=2024-09-07T18%3A29%3A59.453Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bsocial_dominance_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Meanwhile, the weighted sentiment data observed a slight increase from the lower region, noted around -0.545. However, the value was still in the negative region. However, a bounce was observed, which means a change in the investors’ mindset for ONDO.</p>
<p>This week, the token’s active addresses data noted an increase at 1096. It showed that new investors have started gaining interest and anticipated a rise.</p>
<p>However, the network growth line fell to the bottom, representing a declining growth of the ecosystem.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="278" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-1024x278.png" alt="" class="wp-image-703279" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-1024x278.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-300x81.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-768x209.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-150x41.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-696x189.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103-1068x290.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-103.png 1410w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><a href="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd0I02Psfpv37Xwfvq5vGr6PxBhBJM6B0oizGAL8oW7uCoFh-odgJqwQEc7TIQ8ywrezSCUm9d1M6Njbr8gJCJ2fLLr-R-Z1_s5m5iHoprVnSYK7VPn_7waizh_40glq2_04EsKbNgtvhVDR5wfrc18OxaI?key=ds67Fr495L8bqY1j06hU4g" rel="noopener noreferrer nofollow">Liquidations Data&nbsp; &nbsp; |&nbsp; Source: Coinglass</a></p>
<p>The Futures Open Interest (OI) increased over 1.28% to $79.72 Million in the past 24 hours. It represented a long buildup activity by the traders.</p>
<p>Moreover, the consistent shift in the weighted funding rate value represented that the investors were still not confident, and indecisiveness was observed.</p>
<p>The immediate support levels for ONDO Price were $0.5470 and $0.5300, while the immediate resistance levels were $0.6000 and $0.6200.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/09/08/ondo-price-in-correction-mode-how-long-will-the-decline-last/" rel="noopener noreferrer nofollow">ONDO Price In Correction Mode: How Long Will The Decline Last?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

ONDO Price In Correction Mode: How Long Will The Decline Last?

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