- Ondo price hovered near $0.24, down around 6%.
- If there’s a breakout, ONDO could target $0.45 in the near term.
- ONDO could dive below $0.20 if bulls fail to hold onto gains.
The ONDO token climbed to nearly $0.30 as improving sentiment lifted much of the altcoin market, including the real-world asset tokenisation project.
However, selling pressure emerged near a key resistance level, with the price down about 6% over the past 24 hours at the time of writing on Monday, February 9, 2026.
As a result, despite a mildly constructive technical setup, a deeper pullback could undermine near-term upside momentum and weigh further on the price of ONDO.
Ondo price recap: bounce hits supply wall
Like several major altcoins, ONDO rebounded from the $0.20 level as cryptocurrencies recovered from the sell-off on February 5.
However, buying momentum weakened near $0.27, where selling pressure held over the weekend, establishing the area as a strong supply zone.
On Monday, the token moved lower again, falling about 6% to trade just above $0.24.
The decline was accompanied by an 8% rise in trading volume, pointing to continued seller dominance.
The weakness has come as Bitcoin struggles to regain traction around the $70,000 level, with broader market sentiment remaining negative.
On-chain data across the sector indicates sustained selling from early investors and large holders.
ONDO remains under pressure and is down about 14% over the past week, in line with similar declines across RWA-related tokens.
Ondo price outlook: up or risk of fresh pain?
The broader outlook for ONDO continues to reflect a balance between technical factors and wider macroeconomic pressures.
Signals on the daily chart are mixed. The relative strength index (RSI) is near 32 and trending lower, indicating scope for a deeper move into oversold territory.
At the same time, the Moving Average Convergence Divergence (MACD) is pointing to a potential bullish crossover, with the histogram showing easing downside momentum.
One notable feature on the higher-timeframe chart is a tightening falling wedge visible on the weekly timeframe.
The pattern currently leans in favour of bulls, with price action tracking close to the upper trend line.
ONDO has largely consolidated within this structure through much of 2026 and has repeatedly rebounded from the lower boundary, reinforcing the pattern’s significance.
If a breakout materialises, ONDO could target the $0.45 level in the near term, with scope to extend toward $0.70 if momentum strengthens.
However, downside risks remain elevated.
The broader cryptocurrency market continues to trade weakly, with Bitcoin struggling below $69,000 and Ethereum facing repeated rejection near $2,000.
Sentiment remains fragile, with the CoinMarketCap Crypto Fear and Greed Index at 9, firmly in extreme fear territory.
High liquidation activity, exceeding $344 million over the past 24 hours, also points to continued market stress.
If ONDO fails to hold support at $0.21, analysts warn that a pullback toward the $0.17 level could follow.
Credit: Source link
