ONDO
What is fundamentally behind the coin?
🔹Cooperation with XRP (https://x.com/OndoFinance/status/1932775406957994403) (and Ripple itself has quite promising prospects).
🔹Gradual movement in the area of clear legislation on tokenization primarily in the USA, and generally the interest of institutional investors in the RWA sector
🔹Favorite asset tokenization project of hedge giant BlackRock.
But this is all rather a medium-term theme.
What about the technicals?
🔹Since mid-April, ONDO has been rising along with everything else. Now we are declining. Over the last couple of days, we are trying to break through a slanted channel to rise (green line on the chart). So far, the results are mediocre.
🔹According to wave analysis, there is a probability that the fifth wave of decline is currently developing (the waves are on the chart). Its potential end is at 0.67996. The lower boundary of the potential range is approximately in this area.
🔹It is unlikely that we will be able to break the downward scenario for now. For that, we need something really mischievous and positive. For example, the cancellation of tariffs, or suddenly an announcement that XRP will receive an ETF in the near future (the connection with XRP Ledger could potentially drive ONDO up). If something like that happens, our targets are 0.95529 and 1.03739. This is a rough calculation based on wave analysis until some significant correction of the potential upward movement.
Current news background in the market:
➖The Fed rate will most likely remain unchanged.
➖➕Strange things with tariffs - nothing is clear. And predicting anything is also impossible.
➖➕Bitcoin is still rather undecided, but it is unlikely to surge too much without good news.
You can try to take a potential fifth downward, but carefully. It is still unclear where Bitcoin is heading; the situation is, to put it mildly, controversial.