ONDO faced mild selling pressure on August 1, 2026, with the token pulling back over the prior 24 hours. However, technical analysis indicates that ONDO is holding above a significant support level, and one prominent crypto analyst views the recent decline as part of a broader long-term setup rather than a signal that the token's upward trajectory has ended.

At the time of writing, ONDO was trading at $0.3875, representing a 2.63% decrease over the previous 24 hours. The token recorded $147.70 million in daily trading volume and maintained a market capitalization of approximately $1.89 billion, placing it among the leading real-world asset (RWA) focused cryptocurrencies by market value. ONDO functions as the governance token for Ondo Finance, a protocol that issues tokenized versions of U.S. Treasury-backed instruments such as OUSG and USDY, giving token holders influence over the platform's protocol parameters and发展方向.

Analyst Sees Long-Term Bullish Structure

Crypto analyst Crypto Patel shared an optimistic outlook on ONDO on August 1, 2026, explaining that deep retracements are a normal feature of bull markets and do not necessarily indicate that a bullish cycle has concluded.

"A 90% correction doesn't end bull markets; it creates great entries," Patel stated.

According to Patel, ONDO is forming an underlying market structure that could support a rally toward the $5–$10 range over the coming years, provided broader market conditions continue to improve. This projection is derived from long-term chart analysis rather than short-term price expectations. Achieving such targets would depend on multiple factors, including sustained strength in the cryptocurrency market, growing adoption of Ondo Finance, and continued expansion of the tokenized assets sector. The RWA tokenization space has drawn participation from major traditional financial institutions, including BlackRock's launch of its tokenized fund BUIDL on Ethereum, which has contributed to broader institutional and retail interest in the category.

Technical Indicators Present Mixed Picture

Current technical readings suggest ONDO remains in a consolidating trend, though buying momentum has eased following its most recent upward move.

The Relative Strength Index (RSI) stands at 54.67, with its signal line at 60.51. An RSI above 50 typically indicates that buyers retain an advantage, but when the RSI falls below its signal line, it signals a deceleration in momentum compared to prior periods.

The Moving Average Convergence Divergence (MACD) reinforces this interpretation. The MACD line currently sits at approximately 0.01591, only marginally above the signal line at 0.01564, while the MACD histogram has contracted to 0.00027. Although the MACD remains technically in positive territory, the shrinking histogram points to diminishing buying pressure, a condition that often corresponds with range-bound price behavior.

Key Factors to Monitor

From a market structure standpoint, the latest price action suggests a temporary pause in ONDO's prior pattern rather than a definitive trend reversal. Prospective catalysts that could influence ONDO's price trajectory in the coming months include new partnerships, ecosystem development milestones, and the expanding adoption of Ondo Finance's tokenization products. Regulatory developments around tokenized securities, along with the pace at which institutional capital allocates to on-chain RWA products more broadly, are additional variables that could shape demand for the token.

While the long-term target of $5 to $10 remains speculative and dependent on favorable macro conditions, continued growth in the RWA tokenization market could provide fundamental support for the token's valuation.