Ondo Finance's Price Surge Raises Questions About Sustainability

Ondo Finance, a relatively lesser-known cryptocurrency, has been making waves with its recent price movements. After plummeting 24.59% in just six days at the end of May, the token experienced a miniature resurgence.

The surge saw Ondo Finance gain 22.6% in four days and 18% in the previous 24 hours as of writing. However, experts warn that this move may not be enough to confirm a trend reversal.

Despite the uptick in demand, the altcoin's higher timeframe downtrend remains intact. The weekly chart shows Ondo Finance still far from its all-time high of $2.14 from December 2024.

The recovery in recent weeks has not challenged the former demand zone between $0.60-$0.70, which was breached during the October crash. This suggests that Ondo Finance is still struggling to regain its footing.