Key takeaways
- ONDO is down 10% in the last 24 hours and briefly dropped below the $0.40 support level.
- The coin could retest lower support levels as the price action remains bearish.
ONDO recovers after dipping below $0.40
ONDO is one of the worst performers among the top 100 cryptocurrencies by market cap, as it has lost 10% of its value in the last 24 hours. At press time, ONDO is trading at $0.41, slightly recovering from its dip below $0.40.
The bearish performance comes despite Ondo Finance announcing on Monday that it plans to integrate with Solana (SOL) in early 2026 to expand its tokenized stocks and Exchange Traded Funds (ETFs) platform.
According to its X post, Ondo will bring ETFs to the Solana network. While this announcement signals a bullish outlook for ONDO, the coin has underperformed over the last 24 hours.
The integration is set to enhance scalability, liquidity, and tap into SOL’s fast-growing user base, broadening Ondo’s ecosystem and adoption.
The bearish performance aligns with ONDO’s declining open interest on the Binance exchange, which currently stands at $22.32 million, close to its 2025 low. The decreasing open interest suggests that traders are closing their positions, with speculative interest currently declining.
ONDO could retest $0.34 as bears remain in control
The ONDO/USD 4-hour chart is bearish and inefficient as Ondo has lost 10% of its value in the last 24 hours.
The coin faced a rejection at the $0.52 resistance level last week and has lost 16% of its value since then. If the downward trend continues, ONDO could retest the $0.34 support level in the near term.
The October 10 low of $0.24 could serve as another strong support in the coming weeks or months.
The Relative Strength Index (RSI) on the 4-hour chart is at 32, pointing downward toward oversold conditions, indicating strong bearish momentum. Furthermore, the Moving Average Convergence Divergence (MACD) indicator is showing a bearish crossover, adding confluence to the negative outlook.
However, if the bulls recover, ONDO could rally towards the $0.52 resistance level once again.
Source: https://coinjournal.net/news/ondo-price-prediction-will-ondo-defend-the-0-40-psychological-level/
