The recovery trend in the crypto market continues to gain momentum as Bitcoin shows sustainability above $100k. The buying pressure bolsters assets like ONDO price to prepare for the next breakout. Moreover, World Liberty Financial (WLFI), a DeFi project reportedly supported by the Trump family, has recently acquired a sustainability ONDO token showcasing the potential for higher rally.
According to Coingecko, the ONDO price trades at $2.04, with an intraday gain of 0.3%. The asset market cap holds at $2.95 Billion, while the 24-hour trading volume is at $909 Million.
Key Highlights:
- WLFI-linked addresses add ONDO to its portfolio, boosting recovery sentiment among crypto buyers.
- A rounding bottom governs the current recovery trend in this Defi token.
- The 20-day Exponential moving average acts as immediate support for ONDO amid market pullback.
Trump Family’s Crypto Project Expands Portfolio with $250K ONDO Purchase
World Liberty (WLFI) made a notable move by spending 250,000 USDC to purchase 134,216 ONDO coins at an average price of $1.86.
Since November 30, WLFI’s multi-signature address has executed significant purchases across six major tokens, amounting to a total of $44.74 million USDC.
The key acquisitions include 8,105 ETH for $30 million at an average price of $3,701, 102.9 cbBTC for $10 million at $97,182 per unit, and 78,387 LINK for $2 million at $25.5 per token. Additional purchases involved 6,137 AAVE for $1.99 million at $324..Such large transactions often boost market sentiment and show big players’ confidence in ONDO’s future growth.
ONDO Price Escape from Accumulation Phase Signals Trend Reversal
Since early November, the ONDO price has recorded a significant recovery from the $0.58 to the $4.2 level, registering a growth of $250. This upswing managed to reclaim key daily EMAs (20, 50, 100, and 200) and breach the $1.48 resistance.
Daily chart analysis shows the aforementioned breakout signals the buying’s escape from a 6-month accumulation within a rounding bottom pattern. The chart setup displays a ‘U’ recovery which showcased a complete change in market dynamic from downtrend to sideway action to rally.
With sustained buying, the ONDO price could rally another 14% before the next breakout of the $2.3 level.
