Ondo Price Prediction: ONDO Soars 4% As Ondo Finance Converts Between USDC And BlackRock’s BUIDL, And This ICO Gives Traders A Last Chance To Buy

The Ondo price pumped over 4% in the last 24 hours to trade at $0.8213 as of 2:45 a.m. EST as investors go long on the altcoin.

This is after Ondo Finance tested out the recently introduced ability to convert between USDC and BlackRock’s new BUIDL token at near instant speeds. An ONDO wallet on the Ethereum blockchain redeemed $250k worth of BUIDL tokens in exchange for USDC, according to Etherscan data.

The Ondo Price Is In A Positive Sequence

4-hour chart for ONDO/USDT (Source: TradingView)

The Ondo price has printed multiple higher lows on the 4-hour chart throughout the past 24 hours. This has led to the emergence of an ascending trend line. Should this bullish trend continue, the crypto might finally overcome the $0.85316 barrier that it has been unable to break for the last 2 weeks.

A 4-hour candle close above this threshold could also give ONDO the foundation needed to keep climbing in the following couple of days. Traders might then push the altcoin’s value to above $0.91371, or even $0.98294 in the short term if the bullish pressure persists.

This bullish thesis could be invalidated if the Ondo price collapses below the positive trend line that has formed on its 4-hour chart. Sellers might then take control, resulting in ONDO testing the support at $0.78901 in the following 48 hours.

Continued selling pressure if the crypto drops to this point could expose the altcoin to the risk of plummeting to as low as $0.73787.

Bulls Might Stop Pushing The Ondo Price Higher

Traders will want to keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators on ONDO’s 4-hour chart. On one hand, the MACD line is still breaking away above the MACD Signal line.

This suggests that the crypto’s positive momentum shows no signs of slowing down just yet. Meanwhile, the RSI has formed a peak above 60 and is currently sloped towards oversold territory.

Although the RSI is positioned above its Simple Moving Average (SMA) line to signal that buyers currently have the upper hand against sellers, its negative slope warns that bulls might be losing strength.

This could be an early sign of ONDO’s bullish trend undergoing a bearish reversal, which could be confirmed if the RSI crosses below the SMA line on the 4-hour chart. 

As ONDO attempts to breach the $0.85316 resistance level, traders and investors are turning to new Solana meme coin Slothana for potentially parabolic gains.

The Next Solana Meme Coin To Take The Crypto World By Storm?

Slothana is the latest meme coin to launch in the vibrant Solana ecosystem. Its ICO comes after investors have poured millions of dollars into SOL-based coins in the last few weeks. This frenzy has carried over to Slothana, which raised over $10 million through its presale in less than two weeks.

Instead of compiling elaborate roadmaps and a detailed whitepaper, the meme coin’s team has opted to go a simpler route and rely solely on the hype surrounding meme coins. With the success of its presale, it seems the team’s approach has paid off.

🚀Thanks to you lazy sloths for casting your votes in our recent poll! 🌿 Your voices have been heard loud and clear, and now it's time for us to get to work on delivering to our loyal followers. Stay tuned as we hustle (well, sloth-crawl) to make it happen! #Slothana #memecoin

— Slothana (@SlothanaCoin) April 5, 2024

Investors are now getting ready for Slothana’s upcoming launch. Although no details regarding the launch have been shared by the crypto’s team, there’s speculation that the crypto will debut on both a centralized and a decentralized exchange. 

Potential To Explode After Launch

Slothana is looking to replicate the early success of its Sloth-themed predecessor SLERF, as well as the Solana meme coins that came before it such as BONK, MYRO and WIF, by going from 420 to reach a market cap of $420 million, 

With no timer, stages, or hard cap, the Slothana presale can close at any time and it’s developer is already giving investors one last chance to buy. So, act now if you ar interested.

SLOTH can be purchased on its official website here. For every 1 SOL, investors will receive 10,000 Slothana (SLOTH) tokens.

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