• Ondo extends its gains for the fifth consecutive day on Tuesday.
• Bullish sentiment strengthened following ONDO’s announcement of its selection to DTCC’s Industry Working Group to advance tokenization in the US.
• Trading volume and open interest surge to multi-month highs, signaling increased market participation.

Ondo (ONDO) price edges higher on Tuesday, trading above $0.316 at the time of writing and posting the fifth consecutive day of gains. The bullish price action is further strengthened by Monday’s announcement that ONDO was included in DTCC’s Industry Working Group focused on advancing tokenization in the US. Meanwhile, both trading volume and Open Interest (OI) for ONDO are climbing to multi-month highs, indicating growing investor interest and hinting at rally continuation.

Ondo’s DTCC collaboration fuels bullish momentum

Ondo’s official X account announced on Monday that it has been selected in DTCC’s Industry Working Group to advance tokenization in the US.

“The DTCC custodies over $114 trillion in assets and clears $3.7 quadrillion annually. It is now building a tokenization service designed to bring the core of US capital markets onchain, with Ondo among the select firms contributing to its design,” said the X post.

This announcement is bullish for Ondo in the long term, as it strengthens its institutional credibility and adoption, boosting the price of its native token, ONDO. 

Meanwhile, in the short term, the ONDO price surged over 9% on Monday following this news and continues to trade higher on Tuesday.

Trading volume and Open Interest surge to multi-month highs

Santiment data show that Ondo’s trading volume surges to $278.49 million on Tuesday, the highest volume since mid-October. This increase in volume reinforces the platform’s bullish outlook, reflecting a recent surge in traders’ interest and liquidity in the ONDO chain.

CoinGlass data shows that futures’ OI at exchanges in Ondo surges to $158.51 million on Tuesday from $98.88 million on Saturday and has been steadily rising since the end of March. An increasing OI indicates new or additional money entering the market and new buying, which could fuel a rally in the ONDO price.

ONDO Price Forecast: Bulls in control, aming for 0.360 mark

Ondo is trading at $0.316, extending a constructive near-term bias after breaking above key Exponential Moving Averages (EMAs) and Fibonacci levels. ONDO holds firmly above the 100-day and 50-day EMAs, which now underpin the advance, while momentum remains overheated as the Relative Strength Index (RSI) on the daily chart hovers deep in overbought territory near 78. The Moving Average Convergence Divergence (MACD) indicator is positive and rising above the zero line, reinforcing bullish pressure but also warning that the upside could be vulnerable to a corrective pause after the latest sharp leg higher.

On the topside, initial resistance emerges at the 50% retracement (drawn from January high to February low) near $0.336, followed by the 61.8% Fibonacci retracement at about $0.368. Beyond that, the 200-day EMA around $0.402 and the 78.6% Fibonacci retracement near $0.413 form a broader supply band if buyers extend the trend. 

On the downside, immediate support lies at the 38.2% Fibonacci level around $0.304, with the 100-day EMA and a nearby horizontal level clustered just below $0.300 providing an additional floor. Deeper pullbacks would bring the 50-day EMA around $0.270 and the 23.6% Fibonacci retracement near $0.265 into view, ahead of stronger horizontal support around $0.241.

(The technical analysis of this story was written with the help of an AI tool.)