Ondo Finance (ONDO) emerged as a notable outlier in the altcoin sector with a 6.33% daily gain, outperforming Bitcoin’s 1.90% advance as the leading cryptocurrency remained unable to convincingly clear the $65,000 resistance zone. However, underlying demand metrics painted a cautious picture: the spot taker cumulative volume delta (CVD) stayed dominated by sellers over the 90-day period, according to CryptoQuant data, while a transfer of 8.1 million ONDO (worth $1.66 million) to Coinbase raised concerns of selling pressure. Derivatives interest showed a 16% uptick in Open Interest within 24 hours, signaling heightened speculative activity that could support short-term momentum. Despite a clean bullish breakout from a descending triangle pattern in early July, the On-Balance Volume (OBV) remained flat and failed to clear late-June highs, while trading volume did not match May’s intensity. The swing structure remained bearish, with Fibonacci retracement levels showing a 78.6% level at $0.413, just below the current price. Analysts noted that unless proven otherwise, the $0.413–$0.470 area represented a selling opportunity, while a breakout past $0.470 would flip the long-term structure and offer a safer buying entry on a subsequent pullback.
Ondo Finance (ONDO) recorded a 6.33% daily gain against Bitcoin’s 1.90% as the leading crypto stalled below the $65,000 resistance zone. Spot taker CVD data from CryptoQuant remained dominated by sellers over the 90-day period. A transfer of 8.1 million ONDO, worth $1.66 million, to Coinbase sparked concerns of selling pressure. Derivatives interest showed a 16% uptick in Open Interest within 24 hours, indicating heightened speculative interest.
The token achieved a clean bullish breakout from a descending triangle pattern earlier in July. The MACD stood above the zero line, confirming steady upward momentum. However, the OBV remained relatively flat and had not cleared late-June highs. Trading volume also failed to match the intensity seen in May.
The bearish swing structure extended from $0.47 to $0.20. Fibonacci retracement levels placed the 78.6% level at $0.413, slightly below the current market price. The defense of the $0.31 support in late June was impressive, and repeated moves toward the $0.47 supply zone showed buyer progress. The launch of the Ondo Network was considered bullish for long-term investors.
Yet, weak demand persisted. The spot taker CVD remained bearish, and the OBV was flat in recent weeks. The $0.413–$0.470 area represented a selling opportunity unless a breakout past $0.470 occurred, which would flip the long-term structure and allow a safer buying entry on a pullback.
