{"id":569418,"date":"2024-08-27T07:48:53","date_gmt":"2024-08-27T07:48:53","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=569418"},"modified":"2024-08-27T07:48:53","modified_gmt":"2024-08-27T07:48:53","slug":"ondo-price-prediction-ondo-crypto-drops-3-as-this-2-0-pepe-charges-towards-11-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ondo-price-prediction-ondo-crypto-drops-3-as-this-2-0-pepe-charges-towards-11-million","title":{"rendered":"Ondo Price Prediction: ONDO Crypto Drops 3% As This 2.0 PEPE Charges Towards $11 Million"},"content":{"rendered":"

The Ondo price dropped 3% in the last 24 hours <\/span>to trade at $0.6995<\/span><\/a> as of 00:44 a.m. EST on trading volume that dropped 19% to $83.5 million.<\/span><\/p>\n

This comes as the meme coin space <\/span>dropped by about 1.8%<\/span> to a $44.7 billion market capitalization, with top titans, DOGE, SHIB, and PEPE dropping 3%, 1.7%, and 5%, respectively, as per CoinGecko<\/a> data.<\/span><\/p>\n

Ondo Price Bearish, Aims For A Rebound<\/h2>\n

The Ondo price went on a correction from August 12, dropping from the $0.78 resistance and finding support at $0.66, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

ONDO bears used the support zone to push the price on a markup phase back to the resistance zone, forming a bullish rounding bottom pattern. However, Ondo’s price invalidated the pattern’s bullish prospects as it went through a falling channel.<\/span><\/p>\n

The downtrend has pushed Ondo to trade below the 50-day and 200-day Simple Moving Averages (SMAs), suggesting that the asset is currently on a bearish trend.<\/span><\/p>\n

Moreover, the Relative Strength Index (RSI) is dropping as it hurtles toward the oversold region, currently at 38, indicating that ONDO is under intense selling pressure.<\/span><\/p>\n

If the selling continues, the price of Ondo could plunge further below as the bulls retreat to the $0.66 support.<\/span><\/p>\n

\"Ondo
Ondo Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

However, the bulls may take this as a buying signal, with the token now being oversold and undervalued. If the buying begins at this level, ONDO could rebound, as the bulls target $0.82, having breached both the $0.7161 and $0.78 resistance levels.<\/span><\/p>\n

Meanwhile, as the Ondo price bulls aim for a rebound, investors are also buying the new PEPE alternative, <\/span>Pepe Unchained (PEPE)<\/span><\/a>.<\/span><\/p>\n

99Bitcoins, a crypto YouTube channel with over 706,000 subscribers, says PEPU has the potential to surge 100X after its launch.<\/span><\/p>\n