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Despite failing to break out of its downtrend, ONDO could be preparing for a surge above the $2 barrier. Some analysts suggest it could repeat its 2024 playbook if it continues to hold its current levels. Related Reading: Ethereum Prepares For Massive Run After $2,800 Reclaim – ‘Up Only’ Ahead? ONDO Breakout Eyes $2 ONDO, the native token of the tokenized real-world asset (RWA) platform Ondo Finance, is attempting to reclaim a key area amid the market pullback. Notably, the cryptocurrency has struggled to hold the $1 mark since losing the area as support over three months ago. In December, the RWA token hit its all-time high (ATH) of $2.14 after US President Donald Trump’s crypto venture, World Liberty Financial (WLFI), purchased 134,216 ONDO tokens for 250,000 USDC. This propelled ONDO’s price above the $2 barrier for the first time, but the late 2024 and Q1 2025 corrections halted its bullish momentum, sending its price to the $0.60-$0.70 range. Following the late April market recovery, ONDO’s price reclaimed the $0.85 area and broke out of its multi-month downtrend. The cryptocurrency then hovered between the $0.85-$1.10 levels throughout May, hitting a three-month high of $1.13 nearly a month ago. Since then, the token has been in a one-month downtrend, dipping below its local range after the recent market pullback. However, the cryptocurrency has been attempting to reclaim this range for the past week, hitting a one-week high of $0.92 on Wednesday. Crypto analyst World of Charts highlighted the token’s performance, affirming, “after a long correction, Finally Looking Good For Midterm.” As ONDO attempts to reclaim the $0.90 area, the analyst anticipates that the cryptocurrency will soon break out of its current range and the downtrend line, forecasting a 130% rally toward the $2 barrier. 2024 ATH Repeat Coming? On Thursday, analyst Sjuul from AltCryptoGems noted ONDO’s performance over the past year, asserting, “Not sure there are many other charts looking as good on high time frames like ONDO.” He explained that “The King of RWA” is “basically holding a bullish structure since its launch,” making a series of higher lows for over a year while maintaining its ascending support trendline. Meanwhile, analyst Alex Clay suggested that ONDO could see a parabolic run based on its performance in 2024. The market watcher noted that the token is currently accumulating at the bottom of a 15-month ascending channel, which previously served as a crucial bounce point for its rally toward its ATH. As Clay explained, after reaching the channel’s upper boundary last year, ONDO saw a multi-month downtrend toward the lower boundary, before printing a higher low. This was followed by a massive rally toward the channel’s top. Related Reading: Bitcoin Eyes New Highs As Price Retests $109,000, But Analyst Warns Of Potential Pullback This year, ONDO is “following the Bullish Fractal from the previous year” after falling to the channel’s lower boundary, breaking out of the downtrend line, and registering a higher low. “These 2 reasons are more than enough to pump straight up to the channel’s top,” the analyst concluded. If history repeats, the cryptocurrency could surge toward the $2.8-$3 area. At the time of writing, ONDO trades at $0.84, a 5.2% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin Price’s Brutal Sell-Off Has One More Stop, Says Analyst — Here’s Where
The Bitcoin price continues to decelerate as the crypto market shows signs of weakness due to macroeconomic factors. The top crypto by market capitalization has been testing critical support levels and is at risk of falling deeper into its monthly lows. Related Reading: Bitcoin Could Jump 20% For Every 1% Liquidity Boost: Expert At the time of writing, the Bitcoin price trades around $104,000 recording a 2.5% drop over the past 24 hours. Other cryptocurrencies show greater weaknesses on similar timeframes with Ethereum and XRP displaying a 8% and 4% drop, respectively. Bitcoin price hints at further losses on the daily chart. Source: BTCUSD on Tradingview Bitcoin Price Alert, Key Levels To Watch According to top crypto analyst Daan Crypto, the Bitcoin price has been trading within a narrow window after losing the range high located at $108,385. While the cryptocurrency has been able to withstand the sell-off, the analyst drew important levels to watch. As seen on the chart below, and according to the analyst, the Bitcoin price is likely to stay on its bearish course and potentially touch the mid area of its current range. This price action would put BTC at around $99,600 in the coming days. If buyers can’t hold the sell pressure around this level, then BTC is more than likely to keep bleeding into its range low of $90,000. This bearish price action, the analyst clarified, would become the norm for the rest of June. Key Levels to watch as the Bitcoin price shows weakness on low timeframes. Source: Daan Crypto via X Daan Crypto stated the following regarding the Bitcoin price action: Quick move after that which was obviously “helped” by the headlines although the news was looming already with the past 48 hours of headlines which is also why price started selling of prior. I’ve said it a couple of times before but I’ll say it again. Bulls had no business going back down below $108K and I’m treating this as another deviation and move back into the larger range. This is reason enough for me to be cautious and not add on exposure that was derisked (…). In this context, the analyst advised his followers to wait for clear confirmation that the bull trend is returning if Bitcoin can retake its range high around the previously mentioned level. Otherwise, the best course of action is to remain cautious. Optimism Fades as Bitcoin Aims for Lower On a separate note, trading desk QCP Group noted that the biggest risk for Bitcoin and the crypto market comes from the rising tensions between the US and China, and the growing tensions in the Middle East. Related Reading: Bitcoin Is Just 0.2% Of Global Wealth — And That’s Why It’s Not Too Late: Analyst However, the trading desk pointed at several items to show that there are still good news hinting at a potential recovery in the digital asset market. These included the spike in Ethereum ETFs inflows, the potential launch of a Solana ETF, and GameStop’s plan to offer $1.7 billion in convertible notes to allocate money into Bitcoin as the company looks for “balance sheet diversification.” Cover image ChatGPT, BTC/USD chart from Tradingview
$390M In Ethereum Leaves Exchanges—Biggest Daily Exit In Over A Month
On-chain data shows Ethereum has just witnessed its largest daily withdrawal in over a month, a sign that may turn out to be bullish for the asset’s price. Ethereum Has Recently Seen Notable Exchange Outflows As explained by the institutional DeFi solutions provider Sentora (formerly IntoTheBlock) in a new post on X, a large amount of Ethereum has left exchanges. The on-chain indicator of interest here is the “Exchange Netflow,” which measures the net amount of ETH entering into or exiting out of the wallets associated with centralized exchanges. When the value of this metric is positive, it means the exchanges are receiving a net number of deposits. As one of the main reasons why investors deposit their tokens to these platforms is for selling-related purposes, this kind of trend can have a bearish implication for the ETH price. Related Reading: Tron Has Plenty Of Room For A 2025 Bull Run, Risk Metric Signals On the other hand, the indicator being below zero suggests the exchange outflows outweigh the inflows. Such a trend can imply the holders are accumulating, which can naturally have a bullish effect on the asset. Now, here is the chart shared by Sentora that shows the trend in the Ethereum Exchange Netflow over the past month: As displayed in the above graph, the Ethereum Exchange Netflow has seen a sharp negative spike during the past day, which suggests the investors have withdrawn a significant amount of the cryptocurrency. In total, the exchanges have handled net outflows of more than 140,000 ETH (worth about $390 million) with this withdrawal spree. This is the largest single-day exit that these platforms have faced in over a month. These outflows have come as Ethereum has been attempting a breakout from its month-long range. As such, it’s possible that a portion of the large holders of the market have some level of confidence in this rally. In some other news, the cash-margined Ethereum Futures Open Interest has set a new all-time high, as the on-chain analytics firm Glassnode has revealed in an X post. The Futures Open Interest is an indicator that measures the total amount of positions related to Ethereum that are currently open on all derivatives platforms. Here, the ‘cash-margined’ Open Interest is of relevance, which includes all the contracts that have fiat/stablecoins as collateral. Related Reading: Bitcoin Options Traders Expect Quiet—But On-Chain Data Suggests Chaos From the chart, it’s apparent that this metric has recently seen some rapid growth and has achieved a new record of about $20 billion. “Despite a slight pullback from the $2.8K levels, leverage continues to build as traders load up using stablecoins,” notes Glassnode. ETH Price Ethereum crossed beyond the $2,800 level earlier, but it appears it has seen a setback as its price is back at $2,750. Featured image from Dall-E, Glassnode.com, IntoTheBlock.com, chart from TradingView.com
Bitcoin Price’s Brutal Sell-Off Has One More Stop, Says Analyst — Here’s Where
The Bitcoin price continues to decelerate as the crypto market shows signs of weakness due to macroeconomic factors. The top crypto by market capitalization has been testing critical support levels and is at risk of falling deeper into its monthly lows. Related Reading: Bitcoin Could Jump 20% For Every 1% Liquidity Boost: Expert At the time of writing, the Bitcoin price trades around $104,000 recording a 2.5% drop over the past 24 hours. Other cryptocurrencies show greater weaknesses on similar timeframes with Ethereum and XRP displaying a 8% and 4% drop, respectively. Bitcoin price hints at further losses on the daily chart. Source: BTCUSD on Tradingview Bitcoin Price Alert, Key Levels To Watch According to top crypto analyst Daan Crypto, the Bitcoin price has been trading within a narrow window after losing the range high located at $108,385. While the cryptocurrency has been able to withstand the sell-off, the analyst drew important levels to watch. As seen on the chart below, and according to the analyst, the Bitcoin price is likely to stay on its bearish course and potentially touch the mid area of its current range. This price action would put BTC at around $99,600 in the coming days. If buyers can’t hold the sell pressure around this level, then BTC is more than likely to keep bleeding into its range low of $90,000. This bearish price action, the analyst clarified, would become the norm for the rest of June. Key Levels to watch as the Bitcoin price shows weakness on low timeframes. Source: Daan Crypto via X Daan Crypto stated the following regarding the Bitcoin price action: Quick move after that which was obviously “helped” by the headlines although the news was looming already with the past 48 hours of headlines which is also why price started selling of prior. I’ve said it a couple of times before but I’ll say it again. Bulls had no business going back down below $108K and I’m treating this as another deviation and move back into the larger range. This is reason enough for me to be cautious and not add on exposure that was derisked (…). In this context, the analyst advised his followers to wait for clear confirmation that the bull trend is returning if Bitcoin can retake its range high around the previously mentioned level. Otherwise, the best course of action is to remain cautious. Optimism Fades as Bitcoin Aims for Lower On a separate note, trading desk QCP Group noted that the biggest risk for Bitcoin and the crypto market comes from the rising tensions between the US and China, and the growing tensions in the Middle East. Related Reading: Bitcoin Is Just 0.2% Of Global Wealth — And That’s Why It’s Not Too Late: Analyst However, the trading desk pointed at several items to show that there are still good news hinting at a potential recovery in the digital asset market. These included the spike in Ethereum ETFs inflows, the potential launch of a Solana ETF, and GameStop’s plan to offer $1.7 billion in convertible notes to allocate money into Bitcoin as the company looks for “balance sheet diversification.” Cover image ChatGPT, BTC/USD chart from Tradingview
$390M In Ethereum Leaves Exchanges—Biggest Daily Exit In Over A Month
On-chain data shows Ethereum has just witnessed its largest daily withdrawal in over a month, a sign that may turn out to be bullish for the asset’s price. Ethereum Has Recently Seen Notable Exchange Outflows As explained by the institutional DeFi solutions provider Sentora (formerly IntoTheBlock) in a new post on X, a large amount of Ethereum has left exchanges. The on-chain indicator of interest here is the “Exchange Netflow,” which measures the net amount of ETH entering into or exiting out of the wallets associated with centralized exchanges. When the value of this metric is positive, it means the exchanges are receiving a net number of deposits. As one of the main reasons why investors deposit their tokens to these platforms is for selling-related purposes, this kind of trend can have a bearish implication for the ETH price. Related Reading: Tron Has Plenty Of Room For A 2025 Bull Run, Risk Metric Signals On the other hand, the indicator being below zero suggests the exchange outflows outweigh the inflows. Such a trend can imply the holders are accumulating, which can naturally have a bullish effect on the asset. Now, here is the chart shared by Sentora that shows the trend in the Ethereum Exchange Netflow over the past month: As displayed in the above graph, the Ethereum Exchange Netflow has seen a sharp negative spike during the past day, which suggests the investors have withdrawn a significant amount of the cryptocurrency. In total, the exchanges have handled net outflows of more than 140,000 ETH (worth about $390 million) with this withdrawal spree. This is the largest single-day exit that these platforms have faced in over a month. These outflows have come as Ethereum has been attempting a breakout from its month-long range. As such, it’s possible that a portion of the large holders of the market have some level of confidence in this rally. In some other news, the cash-margined Ethereum Futures Open Interest has set a new all-time high, as the on-chain analytics firm Glassnode has revealed in an X post. The Futures Open Interest is an indicator that measures the total amount of positions related to Ethereum that are currently open on all derivatives platforms. Here, the ‘cash-margined’ Open Interest is of relevance, which includes all the contracts that have fiat/stablecoins as collateral. Related Reading: Bitcoin Options Traders Expect Quiet—But On-Chain Data Suggests Chaos From the chart, it’s apparent that this metric has recently seen some rapid growth and has achieved a new record of about $20 billion. “Despite a slight pullback from the $2.8K levels, leverage continues to build as traders load up using stablecoins,” notes Glassnode. ETH Price Ethereum crossed beyond the $2,800 level earlier, but it appears it has seen a setback as its price is back at $2,750. Featured image from Dall-E, Glassnode.com, IntoTheBlock.com, chart from TradingView.com