The Ondo (ONDO) token is drawing trader attention due to a technical pattern signaling potential volatility and a bullish reversal. According to analysis, the token is nearing a key resistance level at $0.28, with momentum indicators supporting buying pressure. Separately, Ondo Finance has received regulatory approval to offer tokenized stocks and ETFs to investors across the European Union and European Economic Area.
The ONDO token is under scrutiny after forming a descending broadening wedge on its 4-hour chart. According to crypto analyst ZAYK Charts, this pattern indicates rising market indecision and often precedes a bullish reversal.
A confirmed breakout above the pattern’s resistance could propel the price toward a target of $0.40. Analysts note that strong trading volume will be essential to validate any sustained upward move.
Momentum data from TradingView shows the Relative Strength Index is in the low 70s, signaling strong buying activity. The Moving Average Convergence Divergence indicator has also made a bullish crossover, suggesting increasing momentum.
In a separate development, Ondo Finance has received European regulatory approval to launch tokenized stocks and ETFs. The company stated this provides access for up to 500 million investors across over 30 markets.
The initial offerings include tokenized versions of major U.S. equities such as Tesla, Apple, and an ETF tracking the Nasdaq-100. This approval represents a significant step for integrating traditional financial assets with blockchain technology.
