Tokenized stocks continue gaining momentum as blockchain-based versions of traditional equities attract more traders worldwide as of Friday, March 13.
Over the past two weeks, the Ondo tokenized stocks trading competition on OKX Wallet generated more than $163 million in volume, with over 7,000 traders participating on one of Asia’s largest crypto platforms, highlighting growing demand for on-chain financial assets.
Trading activity surged on March 10, when daily volume reached $114 million, accounting for nearly 90% of Ondo’s tokenized stock volume that day.
The strong performance shows increasing interest in tokenized securities, as investors seek faster settlement, round-the-clock trading access, and easier exposure to traditional markets through blockchain-based financial products.
Also Read: ONDO Nears Breakout: $0.86 Target if Channel Resistance Falls
Following these milestones, ONDO’s price has also surged. According to the crypto analyst ZAYK Charts, ONDO is seen to form a descending channel on its daily chart, which is a common formation during a state of correction before a potential trend reversal.
The token price is seen to fluctuate between two descending lines, which is a sign of measured selling rather than furious selling, causing traders to be more vigilant for a potential breakout.
Source: ZAYK Charts’ X Post
If the price is able to rise above the top of the channel for the token with the heavy volume, a bullish continuation is expected.
When the height of the channel is known, a breakout for the asset could result in a rally of nearly 100%, with the next level of significant resistance for the asset being the $0.64 level.
According to TradingView, the RSI for ONDO is currently at 53.56, which is above its signal line of 45.51. This indicates that bullish power is again reasserting itself after a long period of consolidatory trading.
The RSI is still well below the 70 overbought level, which means that the price has plenty of room to continue rising.
Source: TradingView
Meanwhile, the MACD indicator forms a clear bullish crossover as the blue line crosses over the orange line. The histogram turns green, which is a good sign as selling pressure is diminishing and buying pressure is building up.
Although the MACD line is below the zero line, the fact that the line continues to rise indicates a trend reversal.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: ONDO Hits Critical Support: Accumulation Could Trigger 24x Rally
