ONDO fell by 12.48% in the last 24 hours as trading activity weakened in the market, with volume decreasing by 30.71% to $340.5 million.
This decline occurred although ONDO’s institutional narrative remained intact and coincided with a broader market sell-off.
US spot Bitcoin ETFs extended their outflow streak to thirteen consecutive days, increasing pressure on risk assets. As liquidity conditions deteriorated, ONDO struggled to attract new demand.
The combination of falling prices and decreasing volume suggests that buyers have pulled back instead of aggressively defending lower levels.
However, the reduced participation also indicated that conviction remained low across the broader market, leaving ONDO vulnerable to further downward pressure if demand did not return.
Leveraged traders continue to reduce their exposure
Derivatives activity followed a similar trend, with speculative participation weakening.
Open Interest fell 17.03% to $160.33 million, indicating that traders closed positions rather than opening new ones.
Such behavior typically occurs when uncertainty increases and market participants reduce their exposure to risk.
The decline in Open Interest accompanied the sharp price correction, suggesting that long positions exited the market during the sell-off.
Unlike bull rallies supported by expanding leverage, ONDO’s latest move occurred as traders withdrew capital from the futures markets. This condition highlighted a lack of confidence among the indebted participants.
ONDO order flow remained firmly biased towards sellers
Spot market activity offered another bearish signal. The Spot Taker CVD indicator showed continued seller dominance, confirming that aggressive market sell orders continued to outpace buy orders.
This metric reflected real-time order flow and provided insight into trader conviction. Instead of absorbing the supply, buyers remained defensive throughout the correction.
This behavior aligns with ONDO’s falling price structure and reinforces the weakness visible in the broader crypto markets.
Although occasional buying attempts emerged during intraday bounces, 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 will likely continue to face resistance during recovery attempts.
Rejecting Resistance Keeps Bears in Charge
The price structure continued to deteriorate after ONDO loss of traction below key resistance. The asset repeatedly failed to reclaim the $0.4514 resistance zone and was trading near $0.3688 at the time of analysis.
Although buyers defended the $0.3400 support level, the price remained stuck below key resistance levels.
The SAR parabolic points remained above price throughout the recent decline, confirming that bearish conditions remained active. The RSI also weakened and slipped to 49.03, falling below its moving average near 53.68.
This change indicates that buying strength has weakened significantly since the May rally. Rather than showing signs of renewed strength, the indicator reflected a market moving into neutral to bearish territory.
Unless ONDO reclaims higher resistance levels, technical conditions will continue to favor sellers over buyers.
Can ONDO hold $0.3400?
ONDO remained under pressure as volume, open interest, and spot demand all weakened simultaneously. Seller-dominated order flow and bearish technical signals continued to support the bearish scenario.
However, buyers still defended the $0.3400 support zone. If this level holds, ONDO could attempt a recovery towards the $0.4514 resistance zone.
If support fails, the current structure would likely favor a deeper correction as traders continue to reduce exposure and demand remains subdued.
Final summary
- Volume and open interest declined together, reflecting lower trader participation.
- Spot sellers remained dominant while ONDO continued to defend the $0.3400 support.
