ONDO fell 12.48% over the last 24 hours as trading activity weakened across the market, with the volume declining 30.71% to $340.5 million.
The decline emerged despite ONDO’s institutional narrative remaining intact and coincided with a broader market sell-off.
U.S. spot Bitcoin ETFs extended their outflow streak to thirteen consecutive days, which added pressure across risk assets. As liquidity conditions weakened, ONDO struggled to attract fresh demand.
The combination of falling price and shrinking volume suggested that buyers stepped aside instead of aggressively defending lower levels.
However, reduced participation also indicated that conviction remained weak across the market, leaving ONDO vulnerable to further downside pressure if demand fail to return.
Leveraged traders continue reducing exposure
Derivatives activity reflected a similar trend as speculative participation weakened.
Open Interest declined 17.03% to $160.33 million, indicating that traders closed positions rather than opening new ones.
Such behavior usually appears when uncertainty increases and market participants reduce risk exposure.
The decline in Open Interest accompanied the sharp price correction, which suggested that long positions exited the market during the sell-off.
Unlike bullish rallies supported by expanding leverage, ONDO’s latest move occurred while traders pulled capital from Futures markets. This condition highlighted a lack of confidence among leveraged participants.
ONDO order flow remained firmly tilted toward sellers
Spot market activity offered another bearish signal. The Spot Taker CVD indicator showed persistent seller dominance, confirming that aggressive market sell orders continued to outweigh buy orders.
This metric reflected real-time order flow and provided insight into trader conviction. Instead of absorbing supply, buyers remained defensive throughout the correction.
This behavior aligned with ONDO’s declining price structure and reinforced the weakness visible across broader crypto markets.
While occasional buying attempts emerged during intraday rebounds, sellers consistently regained control and pushed prices lower.
Such conditions suggest that demand remained insufficient to reverse the prevailing trend. Until Spot buyers regain control of order flow, ONDO would likely continue facing resistance during recovery attempts.
Rejection from resistance keeps bears in charge
Price structure continued deteriorating after ONDO lost traction below key resistance. The asset repeatedly failed to reclaim the $0.4514 resistance zone and traded near $0.3688 at the time of analysis.
Although buyers defended the $0.3400 support level, price remained trapped beneath major resistance levels.
Parabolic SAR dots stayed above price throughout the recent decline, confirming that bearish conditions remained active. RSI also weakened and slipped to 49.03, falling below its moving average near 53.68.
This shift indicated that buying strength had faded considerably from May’s rally. Rather than showing signs of renewed strength, the indicator reflected a market drifting toward neutral-to-bearish territory.
Unless ONDO reclaims higher resistance levels, technical conditions would continue favoring sellers over buyers.
Can ONDO hold $0.3400?
ONDO has remained under pressure as volume, Open Interest, and Spot demand all weakened simultaneously. Seller-dominant order flow and bearish technical signals continued supporting the downside case.
However, buyers have still defended the $0.3400 support zone. If that level holds, ONDO could attempt a recovery toward the $0.4514 resistance area.
If support fails, the current structure would likely favor a deeper correction as traders continue reducing exposure and demand remains subdued.
Final Summary
- Volume and Open Interest declined together, reflecting weaker trader participation.
- Spot sellers remained dominant while ONDO continued defending the $0.3400 support.