ONDO Price Steady Thanks to Retail Investors

The price of ONDO 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, with over $141 million worth of ONDO sold in a single day. Despite this, retail investors are helping to stabilize the price by holding onto their tokens. This retail support has kept ONDO from becoming one of the market's biggest losers.

Whales continue to sell their holdings, adding to the selling pressure. Typically, whales help prevent sharp declines in cryptocurrency prices, but in ONDO’s case, retail investors are the ones maintaining stability.

Recently, whale addresses with 10 to 100 million ONDO have sold more than 132 million ONDO, valued at over $141 million. This sell-off likely aims to secure profits and minimize losses. However, other investors are trying to avoid a significant price drop. Retail investors, focused on holding (HODLing) rather than selling, have increased their mid-term holdings. The percentage of mid-term holders (holding ONDO for over a month) has risen from 34% to 72%, while short-term holders have decreased from 53% to 22%.

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.

ONDO’s price has been consolidating recently, testing the $1.07 support level multiple times. The altcoin has remained above this level thanks to the backing of retail investors. Nevertheless, the potential for continued whale selling poses a significant risk. If whales keep selling, ONDO could be pushed below the support level, leading to a sharp price decline.

Retail investors’ ongoing support is crucial for ONDO’s price stability. Their decision to hold rather than sell has prevented a more severe price drop and increased the number of mid-term holders. This trend shows growing confidence among retail investors in ONDO’s long-term potential. The dominance of mid-term holders indicates that these investors are willing to hold onto their assets despite short-term market fluctuations.

If the $1.07 support level holds, ONDO’s price could continue to consolidate and possibly rebound. However, if this support is broken, it could trigger a substantial price drop, sending ONDO below $1.00 and invalidating the bullish thesis.

In conclusion, ONDO’s price is at a critical point. Retail investors' support is key to maintaining its current level, but continued whale selling is a major risk. Investors should monitor the $1.07 support level closely, as breaking it could lead to a significant decline. This situation highlights the importance of understanding investor behavior and market dynamics in predicting cryptocurrency price movements.