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ONDO Eyes $1.5 Breakout Amid Growing RWA Dominance

source-logo  cryptonewsz.com 19 February 2025 22:10, UTC
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On February 19th, Wednesday, the crypto market showcased a slight uptick as Bitcoin surged 1% to regain its position above $95,000. While the market sentiment is early to signal a trend reversal, certain assets like $ONDO show potential for sustained recovery amid its dominance in the RWA space and rising demand pressure. Will the $ONDO price break $1.5 in the coming week?

Key Highlights:

  • $ONDO outpaces competitors in transaction volume, solidifying its position in the RWA market.
  • The daily chart shows long-tail rejection at the $1.148 floor, signaling high demand pressure from buyers.
  • The $ONDO coin held above the 50% Fibonacci retracement level, and a 200-day exponential moving average indicates the broader trend remains bullish.

$ONDO Emerges as RWA Market Leader Amid Sluggish Conditions

The tokenized real-world asset (RWA) market has experienced explosive growth, surpassing $20 billion in total value—a remarkable 4x increase since early 2023. According to Satoshi Club, private credit remains the dominant sector, while U.S. Treasury debt tokenization has also surged significantly.

A visual representation of RWA’s growth highlights the increasing institutional interest in blockchain-based financial instruments.

Amid the sectoral growth, the $ONDO coin outpaces its peers in terms of transaction volume. Data from IntoTheBlock shows a sharp transaction volume spike in its network, signaling higher participation from institutional investors and growing market adoption.

Volume Action Tells Tale For $ONDO Price Recovery

Over the past two months, the $ONDO coin has corrected from a $2.14 peak to a $1.19 current trading price, accounting for a 44.4% loss. Consecutively, the asset market cap plunged to $3.8 Billion.

However, the falling price, backed by low volume, indicates weakness in sellers’ conviction. In contrast, the rising volume as the altcoin price rebounds from $1.13 support suggests strong buying interest.

The aforementioned level, accompanied by a 50% FIB and a 200-day EMA, accentuates the key accumulation point. With $1.13 as base support, the daily chart shows the formation of a potential double-bottom pattern.

The chart setup is commonly spotted at major market bottoms, displaying a ‘W’ shaped reversal. If the pattern holds, the $ONDO price could rebound 37%, likely by March to challenge key neckline resistance of $1.67.

cryptonewsz.com