Establishing the long-term $ONDO bias
During the downtrend in 2025 and early 2026, the latest swing high made on this tiemframe was at $0.47. The weekly chart showed a bullish structure break in September after a weekly session close above $0.47.
At the time of writing, the price was at the local $0.40 support level, which had been a resistance zone in August and early September.
Further south, the $0.293-$0.343 demand zone was another higher timeframe area that a bullish reaction could come from.
However, the daily structure has shifted bearishly since. Moreover, the steady price correction from the final week of September has not relented, meaning the lower timeframe price trends were also bearishly biased.
There does not seem to be enough demand to propel an $ONDO price bounce to $0.40 and $0.52, the local highs made during the recent downtrend.
If such a bounce does occur, it would likely present swing traders with a selling opportunity.
The spot CVD uptick in the past 24 hours came alongside a negligible uptick in Open Interest. Spot demand without speculative activity hinted at cautious speculative sentiment and some demand at the $0.40-pivot point, which had been a local resistance zone last month.
Overall, the sellers have been in control of the market for now. The positive reaction from $0.36 seemed encouraging, but sustained demand is needed to propel further price gains.
If the altcoin manages to rally back above $0.50 and stay there, it would be a sign that the bears were weak and buyers can be cautiously bullish.
Final Summary
- Ondo RWA tokenization efforts have been underway, unimpeded by bearish market sentiment and developments.
- On the price charts, the bullish weekly bias was being challenged by the daily timeframe’s bearishness.
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