- Whale’s move into ONDO signaled growing market interest, with key support and resistance levels to watch.
- Liquidation trends suggest a bearish sentiment, with more long positions being forced out than short ones.
A major whale recently made waves in the Ondo [ONDO] market, selling its $PEPE and $BEAM holdings for $6.25 million DAI and incurring a $14.14 million loss.
However, the whale’s next move sparked intrigue—purchasing $5.34 million DAI worth of ONDO at an average price of $1.17.
At press time, ONDO was trading at $1.11, reflecting a 10.16% increase in the last 24 hours. Is this a sign of ONDO’s impending surge, or will the whale’s bold gamble result in more losses?
Address stats analysis: Growing interest in ONDO
Recent data shows a 15.39% increase in new addresses over the last seven days, highlighting growing interest in the token. Active addresses have risen by 36.14%, underscoring increasing user participation in the ecosystem.
Additionally, there has been a 27.05% rise in zero-balance addresses. This indicates that more users are engaging with ONDO, even if they are not yet holding significant amounts.
These figures suggest that ONDO is gaining traction and could see continued market growth.
Source: IntoTheBlock
ONDO price action: Is the token on the verge of a breakout?
The price has been trading within a descending channel since January 2025, with resistance around $1.25 and support at $1.00. At press time, ONDO is at $1.11, reflecting a 10.16% increase in the last 24 hours.
If it can break through resistance at $1.25, targets could shift to $1.50 and even $1.80.
However, if ONDO fails to hold support at $1.00, further downside is possible. Monitoring these key levels is critical for traders to gauge the next price move.
Source: TradingView
In/out of the money: Sentiment check for holders
Currently, approximately 79% of ONDO addresses are “in the money,” with purchases made below $1.12, while 16% are “out of the money.” With around 7.91 billion ONDO tokens held at profitable levels, the market sentiment remains positive.
However, those who bought at higher levels face some risk if the price dips further.
As long as ONDO holds key support, the sentiment remains optimistic for most holders. However, there is cautiousness in the higher-priced segments.
Source: IntoTheBlock
Does the market favor bulls or bears?
The Open Interest (OI) has risen by 13.70%, reaching $320.59M, signaling traders expect price volatility.
However, liquidation data reveals $603.42K in long liquidations compared to $25.53K in short liquidations, indicating more traders are being forced out of their long positions.
This suggests that market sentiment is currently more bearish, and ONDO could face further downside pressure before gaining momentum.
Source: Coinglass
Will the whale’s bet pay off?
The whale’s bet on ONDO could face significant risks. While recent price action shows positive momentum, liquidation trends and key resistance levels point to potential challenges.
A price breakout is possible, but a correction remains more likely in the near term. Therefore, the whale’s move might not pay off immediately. Traders should remain cautious of potential downside risks.
