The real-world asset (RWA) token Ondo (ONDO) is trading under pressure near $0.35, extending its short-term downtrend amid a broader crypto market sell-off. The latest wave of weakness follows escalating US–EU trade tensions, which sparked over $851 million in long liquidations, dragging major assets like Bitcoin (BTC) and Ethereum (ETH) down by roughly 2.5% and 4.5%, respectively, over the past 24 hours.
ONDO itself is down 5.98% at the time of writing. However, despite the bearish momentum, the daily chart suggests price is approaching a technically important zone where a potential rebound setup could begin to form.
Technical Analysis: Right-Angled Descending Broadening Wedge
From a technical perspective, Ondo’s daily chart is carving out a right-angled descending broadening wedge. This pattern often appears during extended corrective phases and can precede bullish reversals if support holds.
This structure has been developing since ONDO’s rejection from the neckline resistance zone around $1.00–$1.17 back in September 2025. Since then, price has continued to print lower highs while gradually expanding volatility, pushing ONDO down toward the lower boundary of the wedge near $0.32.
Notably, selling pressure appears to be easing near this zone. Buyers have stepped in to defend the level, with ONDO currently hovering slightly above it around $0.348 — a sign that demand may be emerging after weeks of sustained downside.
While the lower wedge support is holding for now, upside momentum remains constrained. The 100-day moving average, currently positioned near $0.53, has flipped into strong overhead resistance. Each prior rally attempt has stalled below this level, reinforcing its importance as a confirmation point for any meaningful trend reversal.
Until ONDO can reclaim this moving average, any bounce should be viewed as a relief rally within a broader consolidation, rather than a confirmed rebound.
Future Outlook for ONDO
As long as ONDO continues to defend the $0.32 support zone, the right-angled descending broadening wedge remains technically valid. Sustained holding above this level keeps the door open for a rebound attempt, particularly if price begins forming higher daily or weekly closes.
A successful reclaim of the 50-day moving average, followed by a breakout above the 100-day MA, would mark a clear shift in momentum. If that scenario unfolds, ONDO could gradually work its way back toward the upper boundary of the wedge, which currently aligns near the $1.10–$1.17 region — a level that would represent a significant recovery from current prices.
On the flip side, a decisive breakdown below $0.32 would invalidate the bullish wedge structure and likely expose ONDO to another leg of downside or prolonged consolidation.
Bottom Line
Ondo is currently sitting at a critical technical crossroads. While broader market sentiment remains fragile, the chart suggests ONDO is testing a zone where seller exhaustion could give way to a bounce. The next few sessions will be crucial. How price reacts around the lower wedge support will likely determine whether ONDO can stage a meaningful rebound — or whether bears retain control for longer.