Ethereum
Ondo rebounds slightly following broader altcoin pullback
Ondo has risen 6.6% from its recent low of $0.41, yet technical indicators and broader market weakness continue to challenge its recovery.
Ondo gained 6.6% after hitting a low of $0.41, though it remained down 10% over the previous week. By comparison, Bitcoin recorded a 2.1% decline over the same timeframe. The token's drop coincided with an 8% drop in the total altcoin market capitalization, which fell from $1.13 trillion to $1.05 trillion, alongside $228.4 million in net outflows from spot Bitcoin ETFs between 12 and 16 October.
From a technical perspective, the daily chart shows that the $0.425 level acted as a supply zone from June until late September before a breakout created a bullish market structure. The $0.43 area represents a key order block, while a daily close below $0.404 would invalidate the bullish swing structure. Despite this, the daily Relative Strength Index has declined and On-Balance Volume moved sideways in October, pointing to negative momentum.
On the four-hour timeframe, market structure leaned bearish following a dip below $0.422, with the RSI staying below the neutral 50 threshold for a week. The analysis notes that defending the $0.404 level remains critical for buyers, though the risk of liquidity sweeps below that threshold could affect short-term market positioning.
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