ONDO Price Analysis: Can Bitget Partnership Fuel a Rally?
ONDO Price Prediction Amid Bitget Collaboration
ONDO is currently trading at $0.9083, down 5.2% in the last 24 hours. Despite the dip, a potential turning point may be forming on the charts, coinciding with Bitget's partnership with Ondo Finance on tokenized stocks and ETFs, highlighting ONDO's increasing role in bridging blockchain and real-world assets.
Technical Analysis: Cup and Handle Formation
The ONDO price chart reveals a cup and handle pattern, typically indicative of bullish momentum upon breaking the upper resistance line. A double bottom at $0.84 confirms this level as a strong support, preventing further price declines.
Key Resistance and Targets
The $1.15 - $1.43 range continues to pose significant resistance. A breakthrough could pave the way for the following price targets, based on Fibonacci extensions:
- $1.30
- $1.57
- $1.84
The final extension at $2.00 represents a potential 120% surge from the current price.
Current Price Action
ONDO is consolidating near the 0.236 Fibonacci retracement level at $0.93, trading within a narrowing range. The handle formation suggests an imminent breakout or breakdown. A break above this line could lead to $1.15, while failure could see a drop back to $0.84 support.
Bitget and 1inch Integration: Expanding RWA Access
Bitget's collaboration with Ondo Finance provides users access to tokenized stocks and ETFs, including assets like Apple, Tesla, and Amazon. These assets can be traded 24/7 in dollars and are backed by regulated custodians. 1inch has also integrated Ondo’s system into its Swap API, enabling tokenized RWA trading within wallets and apps. These partnerships signal ONDO's growing importance in connecting blockchain with real-world finance.
Summary
ONDO's price action exhibits a cup and handle formation, supported by a $0.84 base. Overcoming resistance between $1.15 and $1.43 could unlock targets at $1.30, $1.57, and $1.84, with a potential 120% upside to $2.00. Backed by partnerships with Bitget and 1inch, ONDO demonstrates both technical strength and increasing adoption.