Ondo price reached a high of $2.14 on Monday, after rising more than 20% in the previous week. The new all-time high was recorded following on-chain data showing that Donald Trump-backed World Liberty Financial purchased 134,200 Ondo tokens worth $250,000. ONDO open interest has reached record levels, suggesting a continued rally towards $2.51.
Ondo (ONDO) price hit an all-time high of $2.14 on Monday, after rising more than 20% over the previous week. On-chain data shows World Liberty Financial, backed by US President-elect Donald Trump, bought 134,200 HKD tokens, with open interest reaching record levels, suggesting ongoing rally continues This further supports the bullish outlook for Real World Assets (RWA) tokens.
Ondo price hits new all-time high of $2.14
Ondo's weekly chart shows that it reached an all-time high (ATH) of $2.14 on Monday after finding support near the previous week's weekly level of $1.37. Since early November, ONDO has rallied for six consecutive weeks, resulting in an increase of over 200%.
If the uptrend continues, ONDO price will extend its rally and test a new ATH of $2.51. This level coincides with the 141.4% Fibonacci extension line from the October low of $0.588 to the December 2 high of $1.95.
The Relative Strength Index (RSI) on the daily chart is at 78, indicating overbought conditions and suggesting the risk of a correction is increasing. A break out of overbought territory with the RSI below 70 could signal a pullback.
ONDO/USDT weekly chart
This ongoing rally is further supported by the recent purchase of ONDO tokens by the Donald Trump-backed DeFi platform. President Trump-backed World Liberty Financial (WFLI) added RWA tokens to its portfolio on Monday, according to Data Nerd. Multisig wallet exchanged $250,000 USDC stablecoin for 134,200 Ondo tokens.
Open interest (OI) for ONDO futures on the exchange increased from $258.57 million on December 10 to $426.36 million on Monday, reaching its highest level since its launch, according to Coinglass data. An increase in OI represents new or additional funds flowing into the market and new purchases being made, indicating a rise in Ondo prices ahead.
ONDO open interest chart. Source: Coinglass
