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<p>Ondo Finance (ONDO) price action approached a significant resistance level at $1.75. ONDO crypto price chart indicated a recent uptick in price as it neared this resistance.</p> 
<p>This resistance level previously acted as a ceiling for&nbsp;<a href="https://www.thecoinrepublic.com/2024/09/08/ondo-price-in-correction-mode-how-long-will-the-decline-last/">ONDO</a>&nbsp;price movements, making it a focal point for potential breakout analysis.</p> 
<p>The volume profile showed the Point of Control (PoC) was near the $1.75 level, affirming that it was not only a price resistance but also a zone of substantial trading activity.</p> 
<p>This PoC highlighted where the most trading volume had occurred recently, indicating the area’s significance.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="523" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-1024x523.jpg" alt="ONDO/USD hourly chart | Source: Trading View" class="wp-image-876521" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-1024x523.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-300x153.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-768x392.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-1536x784.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-2048x1046.jpg 2048w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-150x77.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-696x355.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-1068x545.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Geg3Tk8aEAAuzmw-1920x981.jpg 1920w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   <em>ONDO/USD hourly chart | Source: Trading View</em>
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<p>The analysis anticipate a strong “flip” off this $1.75 level—if it can be breached and converted into support, there could be potential for a 30%-40% bullish rally.</p> 
<p>This expected rally above the $1.75 mark, suggested a target region around $3.00 if the breakout sustains.</p> 
<p>The increasing volume accompanying the price’s approach to the resistance suggested rising momentum and trader interest, potentially fueling the breakout.</p> 
<p>If ONDO successfully establishes support above $1.75, the volume and price stability above this level could catalyze and sustain the upward movement towards $3.00, aligning with the projected percentage increase.</p> 
<p>This scenario hinges on maintaining the current momentum and the market’s response to breaking past the $1.75 resistance.</p> 
<h2 class="wp-block-heading" id="h-whale-accumulation-continues-for-ondo-crypto"><strong>Whale Accumulation Continues for ONDO Crypto</strong></h2> 
<p>Another metric to consider is the transaction record for ONDO that highlighted substantial acquisition activities by large investors, “whales.”</p> 
<p>Recently, Onchain Lens reported transactions of ONDO token receipts from Coinbase to a single address, which in aggregate represented a whale accumulating 1,085,120 ONDO tokens, valued at approximately $1.83 million.</p> 
<p>The record showed two large transactions each of 335,900 ONDO, valued at $571,536, occurring just 6 minutes ago.</p> 
<p>Following these, a sequence of smaller but still considerable transactions took place, with amounts ranging from 60,816 to 121,966 ONDO. The significant dollar values, indicated hefty purchases.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">In the past 10 hours, a whale has accumulated 1,085,120 <a href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a>, worth $1.83M, from <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a>.<br><br>0x15482c9b3Ec697E8eEA5b48BD1a8BF7b3cBa42D5 <a href="https://t.co/8MQa7kigVW">pic.twitter.com/8MQa7kigVW</a></p>— Onchain Lens (@OnchainLens) <a href="https://twitter.com/OnchainLens/status/1866771305347027085?ref_src=twsrc%5Etfw">December 11, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>The accumulation pattern could be critical as it reflects ongoing interest and investment from whales in the broader market.</p> 
<p>Whale activity like this, often serve as a catalyst in crypto markets, influencing price movements due to the substantial capital and market share these entities control.</p> 
<p>The recent purchases suggested confidence from high-net-worth investors in ONDO crypto’s potential growth, aligning with market speculations that such accumulation could drive price towards $3.</p> 
<h2 class="wp-block-heading" id="h-ondo-s-global-in-out-of-the-money"><strong>ONDO’s Global In/Out of The Money</strong></h2> 
<p>The Global In/Out of the Money for ONDO relative to the current price of $1.71, as of press time, indicated 91.73% of the addresses holding ONDO were ‘In the Money’. This meant majority of investors currently enjoy profits on their holdings.</p> 
<div class="wp-block-image"> 
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  <img loading="lazy" decoding="async" width="1024" height="219" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-1024x219.png" alt="ONDO Global In/Out of The Money | Source: IntoTheBlock" class="wp-image-876516" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-1024x219.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-300x64.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-768x164.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-1536x328.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-150x32.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-696x149.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017-1068x228.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120225017.png 1712w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   <em>ONDO Global In/Out of The Money | Source: IntoTheBlock</em>
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<p>Conversely, 0.00% are ‘Out of the Money’, denoting no current holders were at a loss, reflecting strong past price performance or buying patterns below price.</p> 
<p>Additionally, 8.27% were ‘At the Money’, indicating these holders purchased around the current price level. The dominance of profitable holders sets a potentially optimistic sentiment in the market.</p> 
<p>Considering the substantial portion of holders profiting, there could be potential for ONDO crypto to reach $3, as profitable investors could be incentivized to hold or buy more, anticipating further gains, thus potentially driving the price upward.</p> 
<p>This positive sentiment, coupled with ongoing profitability among holders, supports the possibility of ONDO achieving higher price in the near term.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/13/ondo-crypto-to-reach-3-amid-whale-accumulation/">ONDO Crypto to Reach $3 Amid Whale Accumulation?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

ONDO Crypto to Reach $3 Amid Whale Accumulation?

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