ONDO is trading in a tightly compressed range with weak momentum, as derivatives activity shows reduced participation. The token faces resistance near the 200-day EMA, while Ondo Finance’s new Australian partnership with Openmarkets Group could support its long-term tokenized asset strategy.
ONDO is entering a highly compressed phase as its trading range continues to narrow, leaving limited room for further consolidation. This increasingly tight structure suggests that volatility could expand soon, with traders watching for a decisive move above resistance. According to crypto analyst Jesse Olson, a confirmed breakout could strengthen bullish momentum and potentially open the path toward $0.60.
The latest technical outlook suggests ONDO is approaching a critical point where buyers could attempt to seize control after the extended period of sideways movement. If resistance is broken with strong volume and sustained demand, the token could accelerate higher toward the $0.60 target highlighted by the analyst, though this remains a projection.
The current setup follows a decline from ONDO’s September 7 local peak near $0.3950. The sell-off pushed the token below its 20, 50, 100, and 200 exponential moving averages, weakening the short-term trend. ONDO has since attempted to recover, but repeated resistance around key moving averages continues to limit bullish momentum.
On the four-hour chart, the 200 EMA has emerged as an important barrier near $0.3585. ONDO’s recovery toward this level was rejected, sending the price back toward approximately $0.3427. A sustained move above the 200 EMA could offer an early signal of improving market structure, while another rejection would reinforce bearish pressure.
Momentum indicators currently provide little confirmation of a bullish reversal. The RSI Divergence Indicator flashed a bearish signal near the September high before the sell-off intensified. A smaller bullish signal appeared around September 13, helping support a rebound, but ONDO’s latest RSI reading of 40.39 remains below the neutral 50 threshold.
Derivative data also indicates cautious participation. According to CoinGlass data, ONDO trading volume is down by 0.78% to $197.74 million while open interest is down by 6.32% to $221.12 million. The coinciding drop in both metrics suggests that traders are unwinding their leverage positions as they wait for a catalyst.
Apart from technical considerations, Ondo Finance is moving forward with its approach to tokenized assets through a memorandum of understanding with Openmarkets Group of Australia. The partnership will look at the possibility of offering Ondo’s tokenized financial offerings to qualified Australian investors. As part of the partnership, consideration is being given to tokenizing securities listed on the Australian stock exchange, as well as Ondo Stocks distribution in Australia and tokenized US Treasuries.
This is an exploratory partnership, and any offerings will be subject to final agreement. In the near term, ONDO will have to recapture resistance and increase market participation before a breakout can be established, while over the long term, Ondo’s increasing network of tokenized assets might prove interesting to investors.
