ONDO is currently trading at $0.71, having decreased by 2.2% in the last 24 hours, while testing the critical lower Bollinger Band support level. This decline coincides with a broader selloff in the cryptocurrency market, which has affected RWA tokens.
The technical indicators suggest that ONDO is experiencing oversold conditions. Despite this, the cryptocurrency lacks significant catalysts that could drive its price upward. As the market continues to fluctuate, traders are watching the lower Bollinger Band support closely.
The support level around $0.68 is noteworthy, as it may serve as a potential rebound point depending on future market movements. However, for the time being, the trend appears to be downward, leaving many in the trading community uncertain about the next steps.
The cryptocurrency market is influenced by various factors, and the current selloff reflects ongoing volatility. Investors are advised to remain cautious as they navigate this uncertain environment.
