ONDO Surges 10% as Analysts Predict Price Target Up to $3
Ondo (ONDO) has seen a 10% increase in the last 24 hours, attempting to break its downtrend while the overall market remains stable.
Key Developments for ONDO
- ONDO surged 11% on Friday, surpassing $1.50 again this week.
- The token has risen 120% over the past three months, from $0.60 to its current price range.
- Post-election rally led to an ATH of $2.14, driven by Donald Trump's DeFi project investments.
- World Liberty Financial invested $45 million in various cryptocurrencies, including 134,216 ONDO tokens.
- Recent market corrections saw ONDO retrace to around $1, struggling to reclaim the $1.60 resistance level.
- The token is currently attempting a breakout from a one-month downtrend, holding above key levels.
- A successful breakout could target the $2-$3 price range, needing to stay above $1.30 for confirmation.
Implications of New Pro-Crypto Administration
- Market analysts suggest ONDO's recovery could support a rally toward a new ATH.
- Positive sentiment around a pro-crypto administration may benefit ONDO and similar tokens.
- A "Made in the USA" category was created for tokens like ONDO, TRUMP, SUI, and others.
- Investors anticipate these tokens may perform well under the new government regime.
Currently, ONDO trades at $1.51, reflecting a 20% increase over the past week.