Ondo Finance (ONDO) has drawn renewed attention after analysts said the token confirmed a breakout from a downtrend, putting focus on whether the ONDO price can maintain strength above key support levels. At the same time, Ondo Finance’s partnership with Japan’s SBI Group is moving forward with plans tied to real-world asset tokenization and institutional blockchain adoption in Asian financial markets.

At the time of writing, ONDO was trading at $0.3853, with 24-hour trading volume of $86.75 million and a market capitalization of $1.87 billion, according to CoinMarketCap. The token was down 1.47% over the previous 24 hours, even as analysts continued to monitor its price structure and broader network expansion.

ONDO Retests Breakout Zone After Descending Channel Move

Crypto analyst Crypto Patel said ONDO had confirmed a breakout above its descending channel, a move described as a potential trend reversal after weeks of downward pressure. The analysis was shared in Crypto Patel’s X post, with an accompanying chart also available at https://x.com/CryptoPatel/status/2081009072879624491/photo/1.

Following the breakout, ONDO was retesting the breakout area, a technical level being watched by traders. According to the analysis, holding support between $0.378 and $0.35 would keep the bullish structure intact.

A strong rebound from the retest zone is viewed in the analysis as a possible trigger for ONDO to move toward the $0.665 target. That level would represent an approximate upside of 82% from the recommended entry area cited by the analyst.

The trade setup places the stop loss at $0.339. A move below that level would weaken the setup and make the trade less favorable under the analyst’s framework. For technical traders, that range is important because a breakout retest often separates a sustained trend shift from a failed move back into the prior channel.

Ondo and SBI Work to Bring Japanese Assets On-Chain

Ondo Finance also highlighted its collaboration with Japan’s SBI Group, which is aimed at bringing Japanese financial assets onto blockchain infrastructure. The partnership represents a step in real-world asset, or RWA, tokenization in Asia, where banks and financial groups are increasingly testing how conventional assets can be issued, transferred, or settled using blockchain-based rails.

The collaboration is expected to combine Ondo’s blockchain infrastructure with SBI’s financial network. Ondo Finance referenced the partnership in an X post, with an accompanying image available at https://x.com/Ondo/status/2080692097779171419/photo/1.

SBI Holdings chief executive Yoshitaka Kitao said Ondo is an exceptional company in the tokenization sector because of its role in connecting traditional finance with blockchain technology. SBI’s involvement is notable because the group is a major Japanese financial services company, giving the partnership a direct link to regulated market infrastructure and institutional distribution channels.

The collaboration also supports potential integration with SBI’s yen-backed stablecoin. The development underscores Japan’s growing focus on digital asset infrastructure and tokenized financial products, particularly as stablecoins and tokenized assets become part of broader discussions around blockchain use in financial markets.

Although analysts cited a possible bullish price setup and Ondo Finance continues to expand its institutional partnerships, ONDO’s market price was still lower over the 24-hour period at the time of writing. The token’s next move depends partly on whether it can hold the $0.378-to-$0.35 support area after the breakout retest.

A successful retest could support a move toward the $0.665 target identified in the analysis, while a break below support could lead to short-term selling pressure. Traders are also watching the SBI-Ondo Finance partnership for further details on asset scope, stablecoin integration, and implementation timelines because those factors will shape how the tokenization initiative develops.

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