ONDO’s Wild Ride: From $1 to $3, or Just Another Crypto Folly? 🚀💸

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It is a truth universally acknowledged, that a cryptocurrency in possession of a good fortune must be in want of a breakout. Such is the case with Ondo (ONDO), which, in the last four-and-twenty hours, has surged a most impressive 10%, reclaiming its former glory and flirting with the idea of escaping its dreary downtrend. While the broader market languishes in mediocrity, ONDO dares to dream of new heights, spurred on by whispers of a pro-crypto administration that might just propel it to a dazzling $3.

On a most agreeable Friday, the tokenized real-world asset platform, Ondo Finance, saw its native token ascend to the top of the crypto ranks with an 11% daily surge. The cryptocurrency, having breached the $1.50 mark for the second time this week, has rekindled the hopes of investors who had nearly despaired of its fortunes. Over the past three months, the token has enjoyed a most remarkable 120% ascent, climbing from a humble $0.60 to its current, more respectable price range. The post-election rally, fueled by none other than Donald Trump’s DeFi project, saw ONDO reach its latest all-time high of $2.14.

In December, Mr. Trump’s World Liberty Financial (WLF) embarked on a most extravagant crypto shopping spree, spending a staggering $45 million on Ethereum (ETH), Chainlink (LINK), Aave (AAVE), and other tokens. Midway through the month, WLF acquired 134,216 ONDO tokens for 250,000 USDC, sending ONDO’s price soaring above the $2 mark. Alas, the cryptocurrency’s bullish fervor was dampened by the December 19 market correction, which saw ONDO retreat to a mere $1 in the days that followed.

Since that unfortunate episode, ONDO has struggled to reclaim the $1.60 resistance level, oscillating between $1.09 and $1.45 for the better part of the month. However, the ever-observant crypto trader Miky Bull has noted the token’s recent bullish performance as it attempts to break free from its downtrend.

ONDO Price Chart

The cryptocurrency has been ensnared in a one-month downtrend since reaching its latest all-time high, with a brief attempt at a breakout at the start of the year. Today, the token is making another valiant effort, currently holding above the downtrend line. According to Miky Bull, the “king of RWA” could target the $2-$3 price range, provided it remains above the $1.30 level. Furthermore, ONDO must hold near the $1.50 mark to continue its bullish trajectory toward the $1.60 resistance.

Market watcher Detoshi has observed that ONDO has reclaimed a key level, which could support a rally toward a new all-time high. The token has regained its previous ATH level, a crucial resistance before the December pump and a significant support during smaller market corrections. Altcoin Sherpa, too, has praised ONDO’s performance, declaring its chart “looking strong” and suggesting it is a “good beneficiary of a pro-crypto administration.”

Analyst Ted Pillows has advised investors to “keep an eye on Trump and his wallet,” which includes ONDO, as these tokens are expected to perform well in the next market upswing. Notably, a “Made in the USA” category has been created on platforms like CoinGecko and CoinMarketCap for Mr. Trump’s inauguration, featuring ONDO, TRUMP, SUI, and other prominent tokens such as Solana (SOL), Cardano (ADA), and XRP.

Crypto leaders and investors are abuzz with anticipation, believing these tokens might be the “next big narrative,” driven by the new US industry-friendly government and the anticipated end of the “regulation by enforcement” approach of the previous administration. As of this writing, ONDO trades at $1.51, marking a 20% increase in the weekly timeframe.

ONDO Price Chart

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2025-01-25 11:47