The broader market backdrop adds important context. Total crypto market capitalization sits at roughly $2.83 trillion, down about 4.9% over the past 24 hours according to CoinGecko, while the Fear & Greed Index reads 74 in Greed territory. That is an unusual combination — a red day paired with a sentiment gauge that has not yet caught up.

Bitcoin dominance is also elevated at 58.75%, which typically signals capital consolidating into $BTC rather than rotating aggressively into altcoins. For a mid-cap asset like Ondo, that represents a meaningful headwind when evaluating the technical picture.

Daily chart confirms bullish structure

The daily chart for Ondo confirms that bulls remain in control, with all three key moving averages…