Ondo's native token ONDO fell approximately 7% over the past week, reversing an approach toward short-term resistance at $0.42 and declining toward the $0.34 local demand zone.
Derivatives Data Points to Bearish Pressure
The pullback coincided with a drop in Open Interest from $122 million to $112 million within a 24-hour window, according to Coinalyze data. Spot cumulative volume delta also declined alongside negative Funding Rates in the hours preceding the report.
While the Funding Rate had turned marginally positive at the time of writing, the combination of indicators suggested bearish dominance in the near term.
Range-Bound Structure Persists
ONDO has oscillated within a $0.305 to $0.42 range since June. The mid-range level of $0.364 was reclaimed by sellers, pushing price toward the lower boundary.
Earlier in 2026, the token experienced a swing from $0.47 down to $0.20, marking a bearish trend continuation. A descending triangle pattern produced an upward breakout in July that stalled at $0.413 local resistance. A May rally also stopped just short of reclaiming the $0.47 high.
Technical Indicators Show Mixed Signals
The Chaikin Money Flow stood at +0.06, indicating capital inflows on the daily timeframe. The Relative Strength Index registered 46.6, reflecting neutral momentum following the rejection from range highs.
The longer-term swing structure remained bearish, with no decisive breakout from the downtrend established throughout the year.
Key Levels in Focus
Traders have their attention on the $0.305 to $0.320 demand zone as the next critical area of interest. A breakdown below $0.34 would bring those lower levels into play, while a sustained move below $0.30 would signal further weakness within the range structure.
