Altcoins News
By Julie Binoche
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Ondo Finance (ONDO), once a rising star in the altcoin market, is now facing serious headwinds. In a move that's raising eyebrows across the crypto space, a major whale has sold 2.
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On June 17, blockchain tracking platform Onchain Lens reported that a large ONDO holder offloaded their entire 2.69 million token position.
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Although the sale might appear to be a savvy move to secure gains before a potential market slide, analysts say it also sends a clear signal: major players may no longer believe…
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The market took notice immediately. ONDO's price, which peaked at $0.92 just a week ago, has fallen more than 10% in seven days, now hovering dangerously close to $0.
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Interestingly, whale activity hasn’t disappeared. According to data from CryptoQuant, the Spot Average Order Size continues to show large transactions, indicating that big…
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IntoTheBlock data adds weight to the bearish narrative. Over the past 48 hours, large holders have offloaded around 4.
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Market metrics further confirm the downtrend. According to CoinGlass, ONDO’s spot netflow stood at a positive $762,000 at the time of writing.
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Momentum indicators are no better. The Moving Average Convergence Divergence (MACD), a key trend-following indicator, has been on a downward trajectory for five straight days.
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Similarly, the Relative Strength Index (RSI) has dipped to around 37, approaching oversold territory.
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With multiple red flags flashing across both on-chain and technical metrics, the next few days will be critical for ONDO.
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If the token fails to hold above $0.75, it could quickly tumble to $0.72—its next major support zone. And if that level fails as well, the decline could accelerate.
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For ONDO to recover, it would need a significant change in sentiment. Buyers would have to re-enter the market in large numbers, absorbing the sell pressure and pushing the price…
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So, what does this mean for ONDO holders and prospective investors?
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In the short term, volatility is almost guaranteed. Whale selloffs, negative technicals, and broader bearish sentiment don’t make for a stable environment.
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With other altcoins also experiencing similar bearish patterns, ONDO isn’t alone. The crypto market as a whole has entered a phase of correction, and ONDO appears to be one of…
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