(17 May 2024, 16:40 PM IST):
In the world of cryptocurrency, Ondo Finance (ONDO) is emerging as a standout token within the Real World Asset (RWA) narrative, alongside notable tokens such as Hedera (HBAR) and Quant (QNT). Over the past three months, ONDO has provided impressive returns, nearly tripling investors’ money with a surge of +274.0%.
Today alone, the price of ONDO has jumped by +10.43%, pushing its market capitalization to $1.33 billion. Let’s look into the recent breakout of the ONDO token.
Breakout Analysis:
The ONDO token has seen a significant rise of +10.43% in the past 24 hours, driven by a Bullish Pennant Breakout confirmed in today’s charts. The breakout occurred when the resistance trendline was breached at the price level of $0.8793, propelling the token to its current price of $0.9549.
What to Expect ?
This breakout appears promising, as indicated by the recent price jump. From this level, we can anticipate two potential targets:
- Target 1: $1.30, representing an increase of +48.10% from the current price.
- Target 2: $1.80, representing an increase of +105.49% from the current price.
The ongoing hype around RWA tokens such as Hedera (HBAR), Quant (QNT), and Mantra (OM) suggests that ONDO could experience further price appreciation in the coming days.
In conclusion, ONDO is showing strong potential, with technical indicators supporting a bullish outlook. Investors should keep an eye on this token as it continues to capture the market’s attention.
Disclaimer: This is only an analysis and not financial advice.
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