Ondo

Date: Tue, Dec 10, 2024, 07:07 AM GMTThe cryptocurrency market is undergoing a sharp correction after a bullish rally over the past 30 days that propelled Bitcoin (BTC) to an all-time high of $103K. In the last 24 hours, BTC has dropped below $97K, and the total liquidation has reached $1.69 billion, according to <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">Coinglass</a>.Amid this downturn, major <a href="https://coinsprobe.com/xrp-and-ada-marked-double-digit-corrections-are-they-mirroring-previous-bull-run-patterns/" rel="noopener noreferrer nofollow">altcoins </a>have also suffered significant losses, with XRP and Cardano (ADA) both down by over 10%.However, Ondo (ONDO), the Real-World Asset (RWA) token, has managed to stand out, holding its ground with minor gains of nearly 2%. Currently trading at $1.62, ONDO has rebounded from its 24-hour low of $1.38, demonstrating resilience against the broader market trend.<img src="https://coinsprobe.com/wp-content/uploads/2024/12/ONDO-Token-Price.png" />Source: Coinmarketcap<h3 id="whale-accumulation">Whale Accumulation</h3>According to <a href="https://platform.spotonchain.ai/en/profile?address&#61;0x0afb823319994e2add29e6b39c43127e38028930" rel="noopener noreferrer nofollow">Spotonchain</a>, a significant ONDO purchase was detected during the market dip. A whale created a new wallet 11 hours ago and used it to buy 10.978 million ONDO tokens for 4,611 ETH ($17.1 million) at an average price of $1.553.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8cf32d108d6948d19b34c200ddf58345.jpeg" />Source: Spotonchain (X)This sizable acquisition during the market crash has bolstered ONDO&#39;s price, allowing it to recover swiftly.<h3 id="what-39-s-next-for-ondo">What&#39;s Next for ONDO?</h3>Despite the recent gains, ONDO faces critical resistance levels ahead. To sustain its momentum, ONDO needs to break through the $1.65 resistance zone, marked in red on the chart, as well as the descending trendline near $1.70. If these levels are surpassed, ONDO could regain its bullish trajectory.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9e742678af3845bfb92fa6ebd1dffec4.png" />However, failure to overcome these barriers might increase the chances of further downside, given the prevailing bearish sentiment in the market.As the broader crypto market experiences turbulence, ONDO&#39;s resilience and whale support may offer a glimpse of optimism, though traders should remain cautious.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/xrp-and-ada-marked-double-digit-corrections-are-they-mirroring-previous-bull-run-patterns/" rel="noopener noreferrer nofollow">XRP and ADA Marked Double-Digit Corrections: Are They Mirroring Previous Bull Run Patterns?</a>

ONDO Holds Strong Amid Altcoin Correction Following Significant Whale Accumulation

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