ONDO crypto is currently holding just above the $1.08 support level, having tested this point three times in the last two weeks. Whales have been selling off large amounts of ONDO, with over $141 million worth sold in a single day.
However, retail investors are helping to stabilize the price by holding onto their tokens. Retail investors, focused on holding (HODLing) rather than selling, have increased their mid-term holdings, with the percentage of mid-term holders rising from 34% to 72%.
This shift in investor behavior has helped ONDO stay above the critical support level, leading to a period of price consolidation. Over the last two weeks, ONDO has consistently tested but not fallen below the $1.07 support level. Retail investors’ support suggests that ONDO’s price might remain stable and possibly rebound from this level.
However, the risk of a price drop persists if whales continue to sell. A further sell-off could push ONDO below the $1.07 support line, leading to a significant decline in its price. If this support is broken, ONDO could fall below $1.00, challenging the current bullish outlook.
Retail investors’ ongoing support is crucial for ONDO’s price stability, as their decision to hold rather than sell has prevented a more severe price drop and increased the number of mid-term holders. The dominance of mid-term holders indicates that these investors are willing to hold onto their assets despite short-term market fluctuations.
