According to reports from AMBCrypto, Ondo [ONDO] crypto experienced a 7% decline over the past week, falling toward the $0.30 demand zone after failing to breach the $0.42 local highs. The cryptocurrency went from being positioned on the verge of a bullish breakout to facing significant downward pressure. The $0.34 local demand zone is currently being tested, while the $0.305-$0.42 range has been in place since June.
As reported by AMBCrypto, the short-term downturn was accompanied by a notable decline in Open Interest from $122 million to $112 million within 24 hours. Coinalyze data showed a decline in spot CVD alongside negative Funding Rates in recent hours. The Funding Rate was marginally positive at the time of writing, but these indicators collectively signaled bearish dominance. The CMF was at +0.06 to indicate sizeable capital inflows on the daily timeframe, while the RSI was at 46.6 to signal neutral momentum.
According to AMBCrypto analysis, a breakdown below $0.34 and a dip to $0.305-$0.320 would likely provide a buying opportunity around the range lows, targeting $0.42 as take-profit. However, the longer-term swing structure remains bearish, suggesting that traders should be prepared to cut positions in case of a dip below $0.30. The cryptocurrency has lacked a clear trend in recent months but has provided trading opportunities through its oscillation within the established range.
