ONDO (ONDO) Price Soars 100% in a Week: Anticipating Further Upside?

Monday, 25 March 2024, 13:30

The ONDO price experienced a significant surge from $0.40 to $0.90 within a week, doubling its holder count in a month. Despite a high MVRV Z Score indicating potential overvaluation, bullish EMAs suggest room for higher price records. Investors should monitor for possible corrections before new highs are attempted.
https://store.livarava.com/e730ae97-eacc-11ee-aeac-63fd8ea994ba.png
ONDO (ONDO) Price Soars 100% in a Week: Anticipating Further Upside?

ONDO (ONDO) Price Surge Analysis

In just 7 days, the ONDO price experienced a remarkable increase from $0.40 to $0.90, leading to a doubled holder count in a month. The MVRV Z Score surged to 3.57, indicating cautionary overvaluation signs, while bullish EMAs point to further price growth potential.

Holder Count Expansion

The ONDO investor base saw a significant increase, surpassing 10,000 holders by March 25 from 4,872 on February 26. This growth coincided with a 137.5% price surge from $0.40 to $0.95 within six days.

MVRV Z Score Analysis

The sharp rise in the MVRV Z Score from 1.39 to 3.57 between March 19 and March 25 indicates a potential overvaluation scenario, which historically precedes market corrections. Investors are advised to stay vigilant for possible price adjustments.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe