Key control
The launch of the FDIT in the FDIT Fidelity money chain highlighted the growing ONDO list of the associations of top -level assets managers, but the price movement in the next few days could not reflect an intense optimism.
The main asset administrators continued tokenize traditional financial products. Fidelity launched the Fidelity Digital Interst Token (FDIT) on September 10.
It is a chain market fund backed by the United States Treasury Bonds, mainly from Ondo Finance’s [ONDO] United States Treasury Fund in the short term (OUSG) as the only anchor and greater investor.
In doing so, Fidelity joined Blackrock, Wisdomtree and Franklin Templeton to offer tokenized money funds or treasury. Since the launch of Ousg in June 2023, Ondo Finance was one of the first tokens with access to the chain to the United States Treasury Bonds.
In the last two days, Ondo has won 14.1%, receiving $ 0.95 to $ 1.08. Bitcoin [BTC] increased 3.3% and Ethereum [ETH] It rose 5.4% during the same period, helping to explain the upward feeling of Ondo.
However, the technical analysis showed that the Token was heading towards a supply area, and merchants and investors must distrust a reversal of trends.
Ondo rank price action threatens bulls
Source: Ondo/USDT in TrainingView
The 1 -day market structure was bullish, and the high and low key swing was marked in orange. They were at $ 1.17 and $ 0.85, respectively, while a range formation (Blanca) was also identified. Ondo has negotiated within this range since July.
At the time of writing, the price was in a key offer zone from mid -August to $ 1.08. Another 7% higher movement would lead to the rank maximums. However, it was not clear if the current movement could reach the maximum rank.
The CMF in the daily period was below -0.05, showing a strong market capital flow. Although the MACD showed bullish impulse, the domain of the seller was not overthrown.
Therefore, Ondo Swing merchants must be attentive to an investment of bearish trends at $ 1.08 and $ 1.17.
The sustained purchase pressure and the high negotiation volume together with a break of more than $ 1.17 would be a strong upward signal in the coming weeks, but until then, the range formation will probably be respected.
Discharge of responsibility: the information presented does not constitute financial, investment, trade or other types of advice and is only the writer’s opinion
