ONDOUSD Daily Outlook

Ondo is building the next generation of financial infrastructure to improve market efficiency, transparency, and accessibility.

Flux- Lend and borrow on-chain -

Flux is a decentralized lending protocol designed to honor transfer restrictions from permissioned tokens to expand the universe of assets it can support. 

Ondo launched USDY on the Solana blockchain, offering users access to native USDY through a growing array of dApps in the Solana ecosystem. USDY, a yield-bearing token backed by US Treasuries, accrues yield to holders while maintaining the composability and utility of stablecoins. 

Helio, a leading crypto payments platform on Solana with over 450,000 unique active wallets and 6,000 merchants, has integrated USDY as a native payment option. 

Sphere, a payment technology provider on Solana, initially designed with stablecoins at its core, has integrated USDY to enable merchants in emerging markets to conduct secure, cost-effective, and near-instantaneous cross-border payments while having access to US Treasuries backed yield.

ONDOUSD trades  weak after a massive pullback

Any daily close above $1.10 confirms further bullishness.

ONDOUSD gained nearly 50% in the past two days.  The pair holds well above the short-term (21 and 55 EMA) and below the long-term moving average (200-EMA) in 4-hour chart. It hit a high of $0.750 and is currently trading around $0.70.

The bullish invalidation can happen if the pair closes below $0.50. On the lower side, the near-term support is $0.750. Any break below targets $0.60/$0.50. 

The immediate resistance stands at around $1.10. Any breach above confirms bullish continuation. A jump to $1.31/$1.50/$2 is possible. A surge past $2 will take it to $3

It is good to buy on dips around $0.65-.66 with SL around $0.50 for TP of $2.