ONDO rebounds 10%, but traders still lean bearish – Can $0.4 hold?
Traders rushed into leveraged positions, but Spot demand remained weak across the rebound.
With geopolitical tensions potentially easing and hopes of a U.S./Iran peace deal building, the crypto market saw renewed demand.
Amid this shift in sentiment, Ondo Finance [ONDO] rebounded from a $0.37 dip, defended the $0.4 support level, and climbed to $0.44.
At press time, ONDO traded at $0.42, up 10.45% on the daily chart. However, trading volume dropped 32%, signaling lower market participation.
As the market recovered, traders opened new leveraged positions. Open Interest [OI] jumped 15% to $223 million, while Derivatives Volume fell 37% to $682 million.
The rise in OI suggested leverage was building quietly, but traders remained cautious. Higher OI alongside weaker Derivatives Volume often preceded stronger breakouts or sharper pullbacks.
For now, ONDO’s market structure still reflected hesitation.
Why are ONDO spot traders still selling?
Despite the rebound, ONDO spot investors remained largely skeptical. Traders continued cashing out even small gains.
According to Coinalyze data, sellers dominated the market for five consecutive days. Sales volume reached 101 million over the past 24 hours.
At the same time, buy volume dropped to 99 million, leaving the market with a negative delta. This trend persisted over several sessions, signaling aggressive Spot selling pressure.
On top of that, exchange flows reinforced the same bearish pattern. Over the past 24 hours, $50.32 million moved into exchanges compared to $48.2 million in outflows.
As a result, Spot Netflow rose 280% to $2.1 million, confirming continued selling pressure. Historically, rising Spot Netflow weakened market structure and increased downside risk.
Can ONDO sustain this rebound?
ONDO showed signs of recovery as market sentiment improved and investor fears cooled.
Even so, traders remained cautious and continued taking profits into strength. That kept both bulls and bears active around key resistance.
The Relative Strength Index (RSI) remained elevated at 63, while its signal line stood at 61. This showed that both buying and selling activity remained intense.
Likewise, the MACD line rose to 0.027, while the signal line climbed to 0.26. That alignment reflected an ongoing battle for short-term control.
These indicators suggested the next move could depend on which side gained momentum first.
If demand strengthens further, ONDO could reclaim the $0.47 resistance and target $0.5 next. By contrast, continued profit-taking could drag the altcoin below $0.4 and back toward $0.37.
Final Summary
- Ondo Finance [ONDO] rebounded 10.45% after defending the $0.4 support level.
- Open Interest rose 15% to $223 million, signaling growing leveraged positioning in the market.
