Ondo Finance (ONDO) Token Price and Trading Activity Surge, But Technicals Hint at Further Downtrend
- WBOYOriginal
- 2024-09-08 00:17:12665browse
Ondo Finance (ONDO) price was highly volatile, resulting in a volatility of 8.67%. The ONDO price traded in green and advanced by 260% in the last 1 year.
The Ondo Finance (ONDO) price witnessed a significant rise in its derivatives trading activity, while the spot volume showed a moderate increase. Here's a closer look at the token's price performance and technicals:
Ondo Finance (ONDO) price derives strength from a rising 20-day EMA, suggesting a bullish trend in the token's price. However, the recent price decline faced resistance from the 200-day EMA, leading to a downtrend.
The ONDO token's fear and greed index stood at 23, indicating extreme fear among the token's investors. This could be attributed to the recent sharp decline in the token's price.
Ondo Finance token's technicals hint at a bearish trend, with the 50-day EMA positioned below the 200-day EMA, suggesting a downtrend in the token's price. The Supertrend also indicated a sell signal on the chart, with the ONDO price trading below the ATR Level of the indicator.
The MACD lines showed a bearish crossover, with the MACD line intersecting the signal line from above, indicating a sell signal. Additionally, the histogram bars were declining, showing decreasing momentum to the downside.
The RSI indicator depicted bearish momentum in the token's price, as the RSI line declined to the lower levels and traded below the 14-day SMA. This suggested a selling pressure in the market.
The ONDO crypto price might encounter support at $0.20 and $0.380, followed by resistance levels at $1.040 and $1.480.
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