Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Ondo Price Forecast: Ondo rallies on the launch of Intelligent Portfolios with BlackRock

Source Fxstreet

Ondo is up 10% on Friday, advancing the 26% gains from the previous day.
Ondo launched three curated portfolio strategies powered by BlackRock, targeting target eligible non-US investors.
The technical outlook for Ondo indicates a strong upside bias as bullish momentum builds.

Ondo (ONDO) price continues to extend its rally above $0.5700 at press time on Friday, following a 26% jump the previous day. The tokenized asset trading platform launched three curated portfolio strategies powered by BlackRock, focused on high income, growth, and diversification. The technical outlook for Ondo indicates an upside bias, as key daily moving averages form a Golden Cross.

Ondo rolls out new BlackRock-powered funds

Ondo announced the launch of new single-token portfolio strategies powered by BlackRock on Thursday. These portfolios are BLKHIon, focused on high income, BLKDIGon, for diversified growth, and BLKGRWon, for high growth. The new portfolios mark BlackRock's expansion of tokenized products accessible to eligible non-US investors through peer-to-peer transfers across wallets, exchanges, and DeFi applications.

Technical outlook: Ondo rally signals bullish trend reversal

Ondo rallies 10% so far on Friday, advancing the 26% jump from the previous day. The DeFi token trades at a Year-To-Date (YTD) high, testing the bullish breakout of the November 5 low at $0.5625. A confirmed breakout could extend the rally toward the October 11 low at $0.6815, followed by the October 13 high at $0.8432.

A Golden Cross pattern is emerging between the 50- and 200-day Exponential moving averages (EMAs) at $0.3856 and $0.3767, respectively, hinting at a bullish trend reversal.

Momentum conditions are stretched on the daily chart, with the Relative Strength Index (RSI) at 76, in overbought territory, and the Moving Average Convergence Divergence (MACD) line maintaining a positive trend, suggesting strong but potentially overheating upside pressure.

Chart Analysis ONDO/USDT (Binance) — ONDO/USDT daily price chart.

On the downside, initial support is seen at the $0.5000 psychological level, followed by the November 22 low at $0.4524. A deeper pullback could see the 50-day EMA near $0.3856, the 200-day EMA at $0.3768, and the 100-day EMA at $0.3695, forming a deeper demand zone.

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

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

WTI (USOIL) Is down 2.03% on Sep 25: Here Is Why WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by

Author TradingKey

17 hours ago

WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by

Silver Price Forecast: XAG/USD remains steady near $64.00 as oil prices ease Silver price (XAG/USD) inches higher after two days of losses, trading around $63.90 per troy ounce during Asian hours on Friday. Non-yielding Silver is finding underlying support as inflation concerns ease following a pullback in crude oil prices.

Author FXStreet

19 hours ago

Silver price (XAG/USD) inches higher after two days of losses, trading around $63.90 per troy ounce during Asian hours on Friday. Non-yielding Silver is finding underlying support as inflation concerns ease following a pullback in crude oil prices.

Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Author TradingKey

Yesterday 09: 57

As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Yen touches 158.37 as Tokyo reopens, then slips back — ¥15.4 trillion of intervention and the 200-day line stand between here and 160 USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.

Author Irene Q.

Yesterday 06: 59

USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Yesterday 06: 46

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Popular Symbols