ONDO breaks past $1 and surges 61% in 30 days, with momentum bolstered by a 21Shares ETF filing.
Daily Active Addresses divergence and exchange outflows support the upside and reduce selling risk.
Near-term targets could be between $1.55 and $1.94 or $0.92 pullback, depending on buyer strength.
After a month-long wait, Ondo (ONDO) finally broke through $1 on July 17. Since then, ONDO’s price has continued its upward momentum, rallying an additional 16% to reach $1.10 at the time of writing.
While some traders may hope for a pullback to re-enter at lower levels, ONDO doesn’t appear ready to offer discounts yet. Momentum is building further, thanks partly to the recent ETF filing from 21Shares.
But the big question remains: How high can ONDO go from here? Let’s find out.
Ondo Gains, Selling Pressure Falls
As of this writing, Ondo’s price has surged by an impressive 61.17% over the past 30 days. This rally gained further traction following the announcement that 21Shares filed for an ETF tied to the token, which boosted bullish momentum.
Following the ETF-related momentum, Glassnode data reveals a significant uptick in ONDO’s exchange outflow.
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Over the weekend, exchange outflows stood at 6.45 million ONDO. But that figure has since surged to 17.94 million, representing a 176% increase in just a few days.
This sharp rise in outflows suggests that more holders are moving their tokens off exchanges, likely into cold storage. As a result, sell-side pressure is decreasing, and if this trend continues, it could tighten available supply on centralized platforms, further supporting the potential for a sustained ONDO price rally.
Beyond the surge in exchange outflows, the Price–Daily Active Addresses (DAA) divergence has also held firmly in positive territory.
A positive DAA divergence suggests that network activity is growing in alignment with price, indicating that the recent rally is backed by real user engagement rather than speculative noise.
This strengthens the case for sustained upside, reflecting a healthy balance between the ONDO price appreciation and organic on-chain demand.
On the technical front, the daily chart shows that ONDO’s price has broken above the upper trendline of a falling triangle. This breakout allowed ONDO to clear the key resistance level at $1.08, turning it into potential support as the rally continues.
Adding strength to this move, the Money Flow Index (MFI) — which measures buying and selling pressure based on volume and price — has surged to 86.57. This elevated reading indicates strong capital inflows and intense buying pressure.
If the current momentum continues, ONDO’s market value could breach the next significant resistance at $1.55.
A breakout above this level would likely attract further buying interest. If this happens, ONDO might rally toward the $1.94 resistance, representing a 75% upside from current levels.
However, this bullish scenario depends on sustained buying pressure. If that begins to weaken, the outlook could shift.
In a reversal scenario, ONDO’s price may retreat to $0.92, where it could find support before attempting another leg higher. As such, $1.55 and $0.92 are key levels to watch soon.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
