ONDO's 100% rebound tests key resistance—will bulls or bears win?

ONDO has surged more than 100% from its February lows, recovering sharply after hitting a bottom near $0.19. The price now sits in a key resistance zone between $0.486 and $0.598, a level that analysts are watching closely for the next move. The rally follows a steep decline earlier this year, when ONDO fell to around $0.19. Since then, the token has rebounded strongly, testing major Fibonacci resistance. This area often marks the end of corrective moves in Elliott Wave theory, suggesting the current rise may still be part of a broader downtrend.

Technical analysts note that holding above $0.35 to $0.40 would keep the medium-term bullish outlook alive. However, a drop below $0.35 could signal the rally has peaked, potentially dragging the price back toward $0.24 or even the earlier low near $0.19. The bearish pattern remains in place as long as ONDO stays under $0.598. A break above this level would shift the outlook, possibly fuelling further gains. Meanwhile, the token’s real-world asset (RWA) narrative has gained attention due to partnerships with JPMorgan, Mastercard, and Ripple pilot programmes.

ONDO’s next direction depends on whether it holds above $0.35 or breaks past $0.598. A failure to clear resistance could reinforce the bearish trend, while a breakout might extend the rally. The token’s ties to major financial players add an extra layer of interest as traders monitor these key levels.