ONDO surges 5% as 21Shares files for an ONDO ETF
Main Idea
ONDO's price surged 5% following 21Shares' filing for an ONDO ETF, with bullish technical indicators suggesting potential further gains.
Key Points
1. 21Shares filed for an ONDO exchange-traded fund (ETF) on Tuesday, contributing to ONDO's price surge.
2. ONDO is one of the best performers in the top 50 cryptocurrencies by market cap, with a 20% price increase.
3. Technical indicators like MACD and RSI suggest a bullish trend for ONDO, with potential resistance levels at $1.26 and $1.5.
4. The broader crypto market is consolidating, which could impact ONDO's near-term performance.
5. ONDO's strong support level is around $0.98, with a potential drop to lower levels if this support fails.
Description
The cryptocurrency market has been stagnant over the last few days following last week’s rally that extended into the weekend. Bitcoin, the leading cryptocurrency by market cap, continues to trade around $118k while Ether is struggling to break above the $4k psychological level. Despite the market’s consolidation mode, some cryptocurrencies have been recording gains. ONDO, the native coin of the Ondo ecosystem, is one of the best performers among the top 50 cryptocurrencies by market cap. The co...
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