ONDO price tests key resistance after bouncing off yearly low
Main Idea
Ondo Finance's ONDO token price has rebounded from a yearly low, showing bullish signals, while the company forms a Global Markets Alliance to expand its tokenized securities platform.
Key Points
1. ONDO price is currently trading at $0.078, up 13% over the past week, rebounding from a yearly low of $0.62 on June 22.
2. Technical indicators show bullish signals, including a MACD crossover and price climbing above the 20 EMA and 100 SMA.
3. Ondo Finance has formed a Global Markets Alliance with key players like Solana Foundation, Fireblocks, and BitGo to launch Ondo Global Markets.
4. The company has expanded its offerings, including tokenized U.S. Treasuries on the XRP Ledger and cross-chain settlements using JPMorgan’s Kinexys and Chainlink.
5. Ondo Finance introduced instant conversion functionality between its OUSG fund and PayPal’s PYUSD.
Description
ONDO price has recently bounced off its yearly low and is now edging closer to a critical resistance level, fueled by a series of recent developments on the fundamental front. Ondo Finance ( ONDO ) price is currently trading at $0.078, up 13% over the past week. The price recently rebounded from a yearly low of $0.62 on June 22, after briefly dipping below the lower trendline of the months-long descending channel on the 4-hour chart. As evident by the volume accompanying the rally from that low,...
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