- ONDO breaks downtrend, signaling potential 89% upside toward $2.12 after key breakout.
- TVL surged past $160M, showing strong liquidity and growing DeFi adoption.
- Golden cross confirms bullish trend, with short-term targets at $1.35 and beyond.
ONDO is gaining traction after breaking through an important resistance level.The token rose 7.5% in 24 hours, trading at $1.09 as of this writing. This breakout could push ONDO closer to $2.15 in the coming weeks.
Breaking Free From a Long Wait
For weeks, ONDO’s price was stuck in a narrow range, trading sideways before it broke resistance at $1.05 ending a long downtrend that had kept buyers cautious.This move points to rising buyer interest and increased involvement with the coin.
Analyst World of Charts in a post on social media platform X observed that ONDO is forming a bullish pattern, like a cup-and-handle ascending triangle,a pattern usually associated with preceeding strong upward moves.
Although the exact volume numbers aren’t visible, the sharp price rise hints at solid buying momentum behind this move.
TVL Growth Adds Real Strength
Ondo Global Markets has also seen its total value locked (TVL) climb past $160 million. This is a key figure in DeFi, showing how much capital is locked in the platform.
TVL started slow and even dipped slightly before bouncing back quickly. This rebound shows renewed confidence from users and investors. The increase is likely driven by new features, partnerships, or incentives attracting fresh funds.
A higher TVL means better liquidity which reduces price slippage during trades and allows larger transactions without big price changes.Strong TVL signals more people are using the platform and trusting its services.
Over the past week, the market cap has shown strength, rising steadily after a period of stability. A sharp spike on September 10 pushed it above $3.1 billion, followed by steady consolidation. Another rally on September 12 lifted it past $3.4 billion before a slight pullback, indicating strong momentum and growing investor confidence.
A Golden Cross Sparks Optimism
ONDO’s 50-day moving average crossed above the 200-day moving average. This setup is called a golden cross and often marks the start of a strong uptrend.This technical signal backs the recent breakout and suggests the price may keep climbing.
Traders are eyeing a short-term target near $1.35 and if momentum holds,ONDO could rally further to about $2.12 nearly 90% above today’s price.However, pullbacks are possible. A retest of the $1.00 to $1.05 breakout zone could happen.
