Ethereum ETF Approval Propels ONDO ($ONDO) to Record $1.33 ATH: Is $2 Next?

  • ONDO Finance hits a new all-time high of $1.33, driven by Ethereum ETF hype.
  • With recent stability around $1.27, ONDO aims for $2 if it breaks the $1.32 resistance.
  • There is an unfamiliar entrant into the crypto market rally.

ONDO Finance hits a new all-time high of $1.33, driven by Ethereum ETF hype.

ONDO Finance Surges Amid Ethereum ETF Hype

Taking the markets and community by surprise, Pantera Capital’s ONDO Finance (ONDO) has broken an all-time high of $1.33 as the Ethereum ETF hype rages on, making it one of the best-performing cryptos. The ONDO/USDT pair has shown some interesting movements over the last five days.

Key Levels and Market Movements

Starting from a base of around $1.17, the token experienced a sharp increase in trading activity, pushing its price to a peak of $1.33 around three hours ago. This upward movement was followed by typical volatility, with prices retracting slightly and then attempting to stabilize near the $1.30 mark before a subsequent pullback to the $1.27 level.

ONDO’s trading volume has remained relatively steady, with a notable rise coinciding with the price surge, meaning there has been an increase in buyer interest during that period. As the price hovers around $1.27 at press time, the market appears to be consolidating after the recent spike. Traders might be assessing the sustainability of the recent gains before committing to further positions.

The $1.27 level could also serve as a new support if ONDO maintains its foothold, or it might see further dips if the selling pressure increases. If ONDO rebounds from its current level and breaks through the resistance at $1.32, it could set the stage for an upward trend towards $1.5 and even $2.

Conclusion

The potential for ONDO to achieve a $2 valuation is quite strong, but it’s important to recognize that various factors beyond technical analysis influence crypto prices. Though we are right at the edge of what might be the greatest crypto bull run ever, the market remains incredibly volatile. Proceed with caution. Always DYOR!

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Michigan State Retirement Fund Invests $10 Million in Grayscale Ethereum Trust, Securing Major Stake

The Michigan State Retirement Fund has strategically positioned itself...

Grayscale Proposes Listing for Grayscale Digital Large Cap Fund (GDLC) as ETP with Bitcoin Dominating Holdings

On November 4, COINOTAG News reported that Grayscale has...

Fragmetric Completes Builder Round Financing to Enhance Solana Ecosystem Security and Liquidity

On November 4th, COINOTAG News reported that Fragmetric, a...

Vitalik Buterin Warns Against Exclusion of Russian Developers in Open Source Community

On November 4th, Vitalik Buterin, co-founder of Ethereum, took...

Bitcoin Volatility Soars Amid U.S. Election Impact on Crypto Markets

Bitcoin Volatility Surges as U.S. Election Heightens Stakes for...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img