Ondo Finance (ONDO) is showing renewed bullish momentum after breaking out of a descending wedge and defending key support. Technical indicators favor buyers, while rising open interest points to stronger positioning. The setup remains constructive as traders watch whether the ONDO price can sustain the breakout and continue its recovery toward higher resistance.

Ondo Finance is a protocol focused on bringing tokenized real-world assets, such as U.S. Treasuries, on-chain, and its ONDO token's price behavior is closely tracked by traders watching the tokenization sector's development alongside broader crypto market conditions.

At the time of writing, ONDO is trading at $0.3804 with a 24-hour trading volume of $93.21 million and a market capitalization of $1.85 billion. The ONDO price has surged by 3.18% over the last 24 hours, according to CoinMarketCap.

ONDO Price Eyes $0.66 After Wedge Breakout

Crypto analyst The Boss revealed that the ONDO price is consolidating after breaking above a descending wedge, with buyers now defending a key support zone. The price action suggests traders are attempting to establish a higher low and preserve the improved bullish structure. Holding this demand area could keep the breakout thesis intact, while losing it would weaken momentum and raise the risk of a deeper correction.

If support continues to hold, the ONDO price could regain momentum and challenge overhead resistance as buyers attempt to absorb selling pressure. A successful breakout could open the path toward $0.42 and $0.48, with $0.66 representing a more ambitious target. Each resistance level must be cleared before continuation becomes technically stronger.

RSI and MACD Support Bullish Momentum Ahead

According to TradingView chart analysis, ONDO's overall price movement has remained firmly bound between $0.2900 and $0.4200 from June through early September 2026. After hitting a local low near $0.3050 in late June, a strong July surge peaked at $0.4200, followed by an August retreat back toward $0.3200. ONDO price action now trends upward around $0.38038, approaching resistance at $0.4000. This range-bound behavior means the current approach to $0.4000 sits near the top of the multi-month range, making it a level that has capped previous rallies.

Technical momentum indicators also support the bullish bias. The 14-period RSI is now at 57.72, indicating consistent buying pressure above its 50.90 signal line while remaining below the overbought level. The Moving Average Convergence Divergence indicator shows a new bullish crossover as the blue MACD line moves above the orange signal line.

ONDO Market Signals Shift as Open Interest Climbs

Coinglass data shows contradictory signals from ONDO derivatives markets. Trading volume declined by 19.29% to $189.21 million, implying reduced participation. On the other hand, open interest rose 5.88% to $251 million, which can suggest that traders are increasing their leveraged exposure positions. Rising open interest combined with a falling trading volume is a divergence traders often monitor closely, since leveraged positioning can amplify price moves in either direction if the market shifts.

Following the bullish price predictions and improving technicals and derivatives data, the ONDO price is moving upward. This move is also supported by the broader crypto market trend, as the BTC price has started to climb.

Ondo Perps Unveils New Trading Leaderboard

Ondo Perps has launched its trading leaderboard, enabling traders to monitor their performance against one another and compete for top rankings on the platform. The latest records show a $720,000 PnL benchmark, $544 million in trading volume, and a $2 million high-water mark for the largest single position, highlighting the level of exposure some traders have assumed. The leaderboard launch is part of Ondo's continued expansion of its trading infrastructure, which the platform has been building out as it seeks to deepen engagement within its ecosystem.

Ondo Perps (@OndoPerps) posted on X on September 3, 2026:

The Ondo Perps leaderboard is live. To hit the all-time top spots, these are the numbers you need to beat:
▸ Top dog: $720K PnL
▸ Biggest spender: $544M in volume
▸ Largest position: $2M single position
Check your ranking and climb the leaderboard 🧵 pic.twitter.com/AZcuPM1Wmy

By setting profitability, trading volume, and position size benchmarks to beat, Ondo Perps is encouraging greater engagement with the platform.

What Happens Next?

The next move for the ONDO price will be determined by whether buyers manage to hold the breakout area and break the nearby resistance. An advance could add further fuel to bullish strength and send the price up toward $0.42 and $0.48, and a prolonged buying phase could see the price head toward $0.66. Beyond price action, developments on Ondo's platform, such as the rollout of features like the Perps leaderboard, and broader crypto market conditions will remain relevant factors for observers to follow.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.