Ondo (ONDO) emerged as one of the best performers last week, displaying impressive resilience and growth. Starting the week on a bearish note, ONDO dropped 3.82% on May 19. However, it quickly rebounded, closing May 20 with a significant 8.29% increase, outperforming the broader market.
Despite a brief correction, Ondo — the native token of the RWA tokenization platform Ondo Finance — resumed its uptrend and achieved a new all-time high of $1.16 on May 24. The token has since continued its upward trajectory, currently trading at $1.28, marking a 40.73% increase over the past seven days and positioning it as the fifth-largest gainer in this period.
Ondo has successfully recovered from a 23% loss in April, surging 71.88% this month. However, its position above the $1.28 level remains precarious, with a Relative Strength Index (RSI) of 77.29 indicating overbought conditions.
A correction seems imminent, but bulls will aim to find support at the 23.6% Fibonacci retracement level ($1.1873) to prevent a steep decline back to the $1 threshold.
Ondo’s performance highlights its potential in the market, especially as it joins PEPE in price discovery mode, showcasing significant growth and investor interest.
