ONDO Price Holds Steady Amid Analyst's Bullish Forecast

ONDO's price experienced a slight decline on August 1 due to selling actions, but according to crypto analyst Crypto Patel, this recent drop may be part of a larger long-term setup.

The ONDO token is currently trading at $0.3875, down 2.63% over the last 24 hours, with a daily trading volume of $147.70 million and a market capitalization of approximately $1.89 billion.

Crypto Patel believes that major retracements are common in bull markets and do not signify the end of the bull run.

He predicts that ONDO could rally towards the $5-$10 range over the long term, assuming strong performance from the crypto market, increased usage of Ondo Finance, and growth in the tokenized assets market.