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- ONDO is down 9.55% in the last 24 hours.
- With strong bearish sentiments, one analyst forecasts a decline to $1.05.
Since hitting a local high of $2.1 a week ago, Ondo Finance (ONDO) has struggled to maintain bullish momentum.
During this period, the altcoin fell to $1.47. In fact, at the time of writing, ONDO was trading at $1.51. This represents a drop of 9.55% over the last 24 hours. Likewise, the altcoin fell by 19.70% on the weekly charts.
Recent market conditions have left the crypto community predicting a further decline. To the extent that popular crypto analyst Ali Martinez suggested a potential decline to $1.05 citing the head and shoulders pattern.
Market Sentiment
In his analysis, Martinez posited that ONDO formed a head and shoulders pattern at the time of release. So, if the altcoin closes below $1.48, it could lead to a 30% price correction to around $1.05.
Source:
For context, the head and shoulders pattern is a bearish reversal pattern that signals a potential price decline after making an upward move.
A price drop below the neckline shows a potential drop equal to the height of the head from the neckline.
Therefore, ONDO must claim $1.86 as support to invalidate the bearish outlook. If it fails to do so, the altcoin will continue to fall.
ONDO: A look at the charts
While the analysis provided above offers a bearish outlook, it is essential to determine what other market indicators are suggesting.
According to AMBCrypto analysis, ONDO was in a corrective phase at press time, with strong bearish sentiments.
Source: Santiment
The downward trend of ONDO is highlighted by the increase in the exchange-flow balance. This implies that more and more traders are moving more assets to exchanges, either to sell them or to prepare to sell.
Source: In the block
This flow to exchanges is even more widespread among large holders. According to IntoTheBlock, net flow from large holders decreased over the past week to -3.52 million.
This shows that there are more whale exits than entrances.
Source: Santiment
Additionally, ONDO’s NVT ratio to trading volume has surged over the past few days, raising overvaluation concerns.
This shows less participation in the network, with fewer transactions, fewer active addresses, and overall network usage.
Source: Santiment
Finally, the altcoin’s stock-to-flow ratio signaled oversupply, confirming our earlier observation of increased inflow to exchanges.
Read Ondo Finance (ONDO) Price Forecast 2025-2026
As ONDO is oversupplied, it is likely to continue to fall as this causes selling pressure.
If current market conditions persist, ONDO will find support around $1.04. However, if the trend reverses, the altcoin will recover $1.7 in the short term.
