ONDO Finance (ONDO) is now hovering around $0.78, a critical price zone that could determine its short-term future. After dropping over 5% in a single day, the ONDO token has hit a major support level, one that’s historically led to strong bounces. But the structure is weak, and the next few sessions will be pivotal.
As of June 6, ONDO is down nearly 12.81% on the week and over 53% in six months, according to TradingView data. Despite a brief intraday rebound (+1.10%), the broader chart structure looks compromised, and top analysts are split on what comes next.
Data from CoinMarketCap shows that ONDO’s 24-hour trading volume surged by 82%, exceeding $141 million. This could mean one of two things: either a panic selloff is nearing its climax, or buyers are beginning to step in at these discounted levels.
Key Support Zone Under Pressure
Technical analysts, such as Sjuul and Alpha Crypto Sign, have flagged the same major horizontal support zone around $0.76–$0.78. According to their charts, this area has consistently acted as a strong demand zone.
Alpha Crypto Signal notes that every time the ONDO Coin has approached this level, it either deviated slightly below and bounced back or held cleanly, leading to a bullish continuation. That’s exactly where ONDO is now. But this time, the structure is shakier.
On the other hand, Sjuul points out a bearish market structure characterized by lower highs and lower lows, which typically precedes a breakdown unless demand kicks in aggressively at the support level.
His chart shows multiple failed attempts to break above resistance near $1.00, forming a descending structure that has brought the ONDO token to this “do-or-die” level.
ONDO Coin Price Prediction: Bounce or Breakdown?
As of now, ONDO trades at $0.784, having recently peaked at $0.8382 on June 5, before the selloff intensified. This rejection from the local top reinforces the resistance zone highlighted by technical analysts.
The short-term outlook depends entirely on whether ONDO can defend the $0.76–$0.78 zone. If support holds, a quick bounce back to $0.90 is likely, followed by a retest of the key $1.00 resistance. A close above that level would invalidate the bearish structure and possibly trigger a rally toward $1.15–$1.20.
However, if ONDO closes below $0.76 with volume, it could lead to a sharp decline toward $0.65, with panic possibly dragging the price even further. In that case, buyers may wait for a confirmed reversal pattern or oversold signals before stepping in.
Given the market’s current indecision, this is a high-risk, high-reward zone. Longs with tight stop-losses below support make sense, but bears will look to capitalize on any breakdown.
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