ONDO Token Shows Signs of Accumulation as Technicals Hint at Multi-Leg Rally

ONDO's price action suggests a potential reversal after a prolonged corrective phase. The token has stabilized between $0.35 and $0.45, a demand zone coinciding with the 0.786 Fibonacci retracement level. Market structure indicates weakening sell-side pressure and possible accumulation by larger participants.

Technical indicators support the bullish case. The MACD histogram has turned positive, with a potential bullish cross forming. Meanwhile, the RSI has rebounded from oversold territory to approach 60—a sign of strengthening momentum. Historical patterns suggest such consolidation phases often precede significant upward moves.

Traders are watching for confirmation of a breakout. A sustained hold above current levels could trigger a multi-leg expansion, with some analysts speculating about cycle potential reaching 2000%. The token's ability to maintain this foothold will determine whether the accumulation phase transitions into a full bullish trend.