ONDO Tests Lower Bollinger Band Support at $0.71 as Broader Crypto Selloff Pressures RWA Tokens
The post ONDO Tests Lower Bollinger Band Support at $0.71 as Broader Crypto Selloff Pressures RWA Tokens appeared on BitcoinEthereumNews.com.
Rongchai Wang Oct 17, 2025 22:24 ONDO trades at $0.71 after falling 2.2% in 24 hours, testing critical lower Bollinger Band support near $0.68 as technical indicators signal oversold conditions in absence of major catalysts. Quick Take • ONDO trading at $0.71 (down 2.2% in 24h) • No significant news catalysts driving current price action • Testing lower Bollinger Band support with RSI approaching oversold territory • Following broader crypto market weakness alongside Bitcoin decline Market Events Driving Ondo Price Movement Trading on technical factors in absence of major catalysts has defined ONDO price action over the past 24 hours. No significant news events have emerged in the past 48 hours to drive fundamental price movement, leaving the token susceptible to broader cryptocurrency market sentiment and technical trading patterns. The current ONDO price decline appears correlated with general risk-off sentiment across digital assets, as Bitcoin’s weakness has created headwinds for altcoin performance. Without specific news catalysts to drive independent price action, ONDO has followed the broader market’s bearish trajectory, dropping from yesterday’s high of $0.73 to current levels near $0.71. The $27.3 million in 24-hour trading volume on Binance spot market indicates steady institutional interest despite the price decline, suggesting consolidation rather than panic selling among major holders. ONDO Technical Analysis: Testing Critical Support Zone Price Action Context ONDO price currently trades below all major moving averages, with the token sitting 7.8% below its 7-day SMA of $0.77 and 16.5% below its 20-day SMA of $0.85. This positioning indicates sustained selling pressure that has pushed the asset into oversold territory relative to recent price action. The current price of $0.71 places ONDO dangerously close to its lower Bollinger Band at $0.68, representing a critical technical support level. With the Bollinger Band %B…
