Read about what investors need to know as the ONDO price surges

One of the cryptocurrency market’s most resilient and quickly expanding tokens is Ondo Finance’s (ONDO) token. In an otherwise bearish market, ONDO stands out as it has increased its value by an astounding 90% in only the last month. With Bitcoin halving coming up on April 20th, crypto investors are eager to explore alternative crypto coins such as ONDO to increase their crypto portfolio diversification

At present, ONDO ranks 73rd in the list of crypto coins according to market capitalization. The altcoin’s market capitalization is approximately US$1.16 billion, and it has decreased in the last 24 hours. Its trading volume stands at US$354.57 million, indicating vigorous trading activity

In the last 24-hour surge, the price of ONDO increased by 1.52%. In the past week, the price of ONDO increased by 10.19%, and in the past month, it increased by 73.58%. In the past 60 days, the price of ONDO rose by 235.81%.

There are ten billion ONDO tokens that will ever be available and 1.38 billion tokens in circulation. Just 15 days ago, on March 31, 2024, ONDO reached its all-time high of US$1.05. The slight decline from its high indicates continuing investor interest, even if it has now retracted. 

Price Analysis

The Relative Strength Index (RSI) for ONDO is 51.36, indicating a neutral level. This means that the market is overbought or oversold. The MACD indicator suggests that the market is in a bullish trend. The 20 SMA of ONDO price is US$0.813. The ONDO price has a resistance level of US$0.841. On the other hand, the low support level for ONDO is US$0.786.

When investing, investors may consider the best time to purchase or sell. Although the optimistic signs point to the potential for development, due to the market’s inherent volatility, investing decisions should be carefully considered and risk assessed.