Comparison of ONDO’s 20% increase with BNB’s 1% decrease: Which token is the better investment?

  • The recent surge in ONDO’s price contrasts with BNB’s decline over the past week.
  • While ONDO shows potential for further growth, BNB seems to be struggling amidst bearish trends.

ONDO, the governance token of Ondo DAO, has notably outperformed Binance Coin [BNB] in the recent week.

ONDO saw a remarkable 20% increase in price, in contrast to BNB, which experienced a 1% decrease in value, as reported by CoinMarketCap.

ONDO’s Growth Trajectory

Currently, ONDO is trading at $0.99, surpassing the key resistance level of $0.95 after a significant double-digit surge.

This surge is fueled by increasing demand for the altcoin, with a notable spike in the number of daily active addresses engaged in ONDO transactions.

On May 17th, the number reached 1843, marking a considerable increase from previous levels.

Additionally, the creation of new addresses for ONDO trading has surged by 86% over the past week.

Source: Santiment

The increased demand for ONDO can be attributed to its profitable transactions, as each loss-making transaction was offset by 3.31 profitable ones.

With ONDO trading above a crucial resistance level and positive indicators like RSI and Parabolic SAR, the altcoin is poised for continued growth in the short term.

Source: ONDO/USDT on TradingView

The positive trend for ONDO is further supported by the Parabolic SAR indicator, indicating a potential uptrend continuation.

BNB Facing Downward Pressure

Contrastingly, BNB is nearing the lower boundary of a symmetrical triangle pattern, with indications of increasing bearish momentum according to the MACD indicator.

Read ONDO’s Price Prediction 2024-25

BNB could face further losses if it breaks below key support levels, potentially trading at $538 and then $505.

Source: BNB/USDT on TradingView

However, a surge in buying pressure could propel BNB’s price towards $591 if the current bearish scenario is overturned.

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