ONDO Holds Wave 4 Structure While $0.598 Remains Breakout Trigger

TLDR:

• ONDO has rallied over 100% from its local lows and is now testing major Fibonacci resistance.
• Elliott Wave structure suggests the current move may still be a corrective rally within a bearish trend.
• A breakout above $0.598 could invalidate the bearish setup and support further upside momentum.
• Ondo’s RWA narrative gains traction through ties with JPMorgan, Mastercard, and Ripple pilots.

The ONDO price is shifting toward whether ONDO can sustain momentum or face renewed selling pressure at overhead resistance. 

ONDO Price Analysis Signals Caution Near Major Resistance

ONDO has posted an aggressive recovery since bouncing from the February capitulation zone near $0.19. The move delivered a strong upside reaction after months of sustained downside pressure across the broader altcoin market.

The current rally has now pushed the price directly into the $0.486 to $0.598 region. This zone represents the 50% to 61.8% Fibonacci retracement of the prior decline, making it a critical technical barrier.

In Elliott Wave analysis, this area often acts as the termination point for wave 4 recoveries before the broader downtrend resumes.

Although price action has remained constructive, the structure of the rally continues to raise caution. The advance shows overlapping internal moves rather than the clean breakout behavior usually associated with a fresh bullish impulse. This suggests the recent recovery may still be corrective.

The bearish structure remains valid while ONDO trades below $0.598. If price fails to clear this resistance cluster, downside pressure could return quickly. The first major downside trigger remains a break below $0.35, which would suggest the rally has likely topped.

In that scenario, ONDO could revisit the $0.24 support zone initially. Additional weakness may expose the prior capitulation floor near $0.19 once again.

Institutional RWA Narrative Keeps ONDO in Spotlight

Despite technical caution, ONDO continues attracting strong attention due to its expanding role in tokenized finance.

The recent collaboration involving JPMorgan Chase, Mastercard, Ripple, and Ondo Finance has strengthened market confidence in the project’s long-term narrative.

The pilot reportedly demonstrated tokenized US Treasury settlement across institutions in under five seconds. This development addresses one of traditional finance’s major inefficiencies by improving settlement speed and cross-border liquidity movement.

As tokenized Treasuries gain traction, ONDO is increasingly being positioned within the infrastructure layer of the Real World Asset market.

Analysts view this as a strong narrative catalyst, especially as institutions continue exploring blockchain settlement solutions.

From a technical perspective, maintaining support above $0.35 to $0.40 keeps the medium-term bullish structure intact. However, a confirmed breakout above $0.598 remains the most important trigger for trend continuation.

If bulls secure that move, ONDO could open a path toward $0.70, with momentum potentially extending toward the $0.85 region in the next expansion phase.

The post ONDO Holds Wave 4 Structure While $0.598 Remains Breakout Trigger appeared first on Blockonomi.