• A bullish TD Sequential signal emerges, but resistance at $1.29 remains critical.
• Address and transaction activity surge, indicating potential accumulation ahead of a price recovery.

Since its peak in December, Ondo [ONDO] has corrected by nearly 50%, leading to a current trading price of $1.18, reflecting a 3.09% increase, at press time.

Despite this recovery, the Parabolic SAR remains above the price, indicating lingering bearish pressure. Additionally, ONDO has struggled to reclaim the critical $1.29 resistance, with lower support forming near $1.18.

However, the appearance of a bullish TD Sequential signal on the 3-day chart suggests that selling pressure may be easing. This could pave the way for a recovery if supported by increased market activity.

Therefore, traders must closely watch how the price reacts to the descending trendline and key resistance levels in the coming days.

ONDO addresses stats: Are investors showing interest?

Address activity shows a noticeable uptick, indicating increased market participation. Over the past week, new addresses grew by 16.54%, active addresses surged by 39.39%, and zero-balance addresses climbed by 42.25%.

This growth reflects heightened investor interest, likely fueled by ONDO’s sharp correction, making it more appealing for accumulation.

Additionally, this increase in new addresses aligns with rising speculation about the token’s recovery potential. However, sustained growth in address activity is essential to validate a bullish outlook.

If these trends persist, they could indicate accumulating confidence among investors.