Ondo Cryptocurrency Slumps 7%, Testing Crucial $0.305 Floor

The Ondo cryptocurrency (ONDO) has been experiencing a downward trend over the past week, plummeting by 7% and reaching towards the $0.30 demand zone.

A notable decline in Open Interest from $122 million to $112 million within 24 hours accompanied this downturn, along with a decrease in spot CVD and negative Funding Rates.

Although the Funding Rate is marginally positive at the time of writing, these indicators collectively signal bearish dominance.

In recent months, Ondo's price action has lacked a clear trend, instead oscillating within a range that has provided trading opportunities for swing traders.