ONDO 20% rise vs BNB’s 1% drop: Which token is your best bet?

• 
  
  ONDO’s
  price
  has
  risen
  by
  double
  digits
  in
  the
  last
  week,
  while
  BNB’s
  value
  has
  dropped.
• 
  
  ONDO
  is
  well
  primed
  to
  continue
  on
  its
  uptrend,
  while
  BNB
  remains
  at
  the
  mercy
  of
  the
  bears. 

ONDO,
the
governance
token
for
the
Ondo
DAO,
has
outperformed
Binance
Coin
[BNB]
in
the
last
week.

While
ONDO’s
price
surged
by
over
20%
during
that
period,
BNB’s
price
shed
1%
of
its
value,
according
to
CoinMarketCap.

ONDO
is
on
course
for
more
gains

At
press
time,
ONDO
exchanged
hands
at
$0.99.
Its
double-digit
rally
in
the
last
week
has
pushed
its
price
above
the
long-term
key
resistance
level
of
$0.95.

The
price
hike
is
due
to
an
uptick
in
the
demand
for
the
altcoin
during
the
period
under
review.

According
to
Santiment’s
data,
the
number
of
daily
active
addresses
that
completed
transactions
involving
ONDO
in
the
last
week
increased
by
101%.

As
of
the
17th
of
May,
1843
active
addresses
traded
the
altcoin,
marking
its
highest
single-day
count
since
the
24th
of
April. 

Likewise,
the
new
demand
for
ONDO
has
increased.
According
to
the
on-chain
data
provider,
the
number
of
new
addresses
created
to
trade
ONDO
climbed
by
86%
in
the
past
seven
days. 

The
spike
in
ONDO’s
demand
is
due
to
how
profitable
transactions
involving
the
altcoin
have
been
during
the
period
in
question.

AMBCrypto
assessed
the
token’s
daily
ratio
of
transaction
volume
in
profit
to
loss
(using
a
7-day
moving
average)
and
found
that
it
returned
a
value
of
3.31.

This
meant
that
every
day
in
the
past
week,
for
each
ONDO
transaction
that
resulted
in
a
loss,
at
least
3.31
transactions
ended
in
a
profit.

Trading
above
a
key
resistance
level
at
press
time,
ONDO’s
price
chart
suggests
that
the
altcoin
might
sustain
the
rally
in
the
short
term.

Its
Relative
Strength
Index
(RSI)
was
68.68,
confirming
that
buying
pressure
remained
significant. Likewise,
the
dots
that
make
up
its
Parabolic
SAR
indicator
were
positioned
under
ONDO’s
price
at
press
time. 

This
indicator
identifies
potential
trend
direction
and
reversals.
When
its
dotted
lines
are
placed
under
an
asset’s
price,
the
market
is
said
to
be
in
an
uptrend.

It
often
suggests
that
the
rising
price
of
the
asset
may
continue
its
uptrend. 

BNB
may
take
more
losses

Regarding
BNB,
it
traded
close
to
the
lower
line
of
its
symmetrical
triangle
pattern
at
press
time.
This
line
has
formed
a
key
support
level
for
the
altcoin
since
the
7th
of
March. 

Readings
from
the
coin’s
moving
average
convergence/divergence
(MACD)
indicator
suggest
that
bearish
momentum
was
rising.

---

Read ONDO’s
Price
Prediction 2024-25

---

BNB
remains
at
risk
of
falling
below
support
and
exchanging
hands
at
$538,
then
$505.

However,
if
this
projection
is
invalidated
and
buying
pressure
spikes,
the
coin’s
price
might
rally
to
trade
at
$591.