- ONDO was slowly upward trending and tested the $ 1 region as support at the time of the press.
- Instructions pointed to taking a profit during the rally next to a weak question.
Ondo [ONDO] Broke out from a falling channel in April and has made a series of higher lows and higher highlights last month. But despite the rally, the CMF remained stubbornly below the +0.05 level.
Source: ONDO/USDT on TradingView
The indicator recently exhibited considerable capital outflows and was again under -0.05. This, combined with the relatively low trade volume after the canal outbreak, was a concern for investors.
The MVRV Z-score measured or topping is undervalued or overvalued compared to its ‘real value’.
In March-April 2025, the metric fell to lows for the last time in August-November 2024. This suggested that ONDO was probably a market base during and just after the channel outbreak.
Instructions by ONDO holders make a profit during the rally
The best output profit ratio (Sopr) from ONGO rose to 1.53 on 9 May. The metric measures the profitability of holders and is simply the price that is sold/paid.
The increase in the Soprle reading came alongside a rally of 27% from $ 0.86 to $ 1.1. Almost immediately it fell back to 1.01.
This showed that the profit of holders had fallen, although the price was still around $ 1.
At the same time, the data from Santiment showed that the sleeping circulation has not changed dramatically in the past three weeks.
This indicated a lack of onto movement of the addresses of long-term holders.
That is why the conclusion of the Sopral decrease was increased by taking profit from holders in the short term. This also explained the lack of movement on the sleeping circulation statistics.
The average currency age has been higher since mid -March. It fell short on May 8, during the ONDO rally.
This dip suggested a token movement of holders, which was probably profit activities that influenced the sopration.