The post ONDO Technical Analysis Feb 22 appeared on BitcoinEthereumNews.com.
ONDO’s 24-hour trading volume is hovering at the 23.81 million dollar level; despite the downtrend, staying below the volume average indicates weak selling pressure and hidden accumulation signals. With low market participation, the price being below EMA20 signals that big players are waiting for an opportunity. Volume Profile and Market Participation ONDO’s current volume profile stands out with a 24-hour trading volume of 23.81 million dollars. This level is well below the 7-day average volume (approximately 35 million dollars), revealing weak market participation. Although the price has declined by 3.67% in the downtrend, the low volume indicates limited conviction among sellers. In volume profile analysis, a concentrated POC (Point of Control) formation is observed around $0.26; this level could act as support as the equilibrium point where high-volume trades occurred. From a market participation perspective, uptick volumes (volume on up candles) are more balanced compared to down tick volumes (volume on down candles). Over the last 3 days, volume on down moves was 20% lower, suggesting retail selling is dominant and institutional buyers are waiting on the sidelines. For a healthy downtrend, volume would be expected to increase; the current low volume provides an early warning that the trend is exhausting. In multi-timeframe (MTF) volume context, 10 strong levels have been identified across 1D/3D/1W timeframes: 1 support/1 resistance on 1D, 1 support/2 resistance on 3D, 2 support/4 resistance on 1W. This distribution indicates resistances dominate in the short term but supports could come into play in the long term. Accumulation or Distribution? Accumulation Signals Accumulation phase signals are clear: As price approaches the $0.2543 support, volume is drying up (decreasing), fitting the classic Wyckoff accumulation model. The volume decrease in down candles over the last 24 hours shows sellers unable to liquidate their positions. With RSI at 41.23 near oversold…