ONDO’s Make-or-Break Moment: Can the $1 Support Level Hold?

Crypto traders are glued to ONDO’s charts as it teeters above the psychological $1 support—a level that could either springboard the token toward recovery or trigger a brutal sell-off.

Why $1 matters: In a market where ’fundamentals’ often mean ’which influencer shilled it last,’ technical levels still dictate short-term action. A clean hold here could see ONDO retest its recent highs, while a breakdown might confirm bears have taken control.

Watch the volume: Thin liquidity around this level means any decisive move could accelerate fast—classic crypto volatility at work. Meanwhile, institutional traders are probably sipping lattes and waiting for retail to pick a direction before jumping in (as usual).

The bottom line: This isn’t just about lines on a chart. It’s a test of whether ONDO’s recent hype has legs—or if it’s just another altcoin destined for the ’we had a narrative, we swear’ graveyard.

Source: ONDO/USDT on TradingView

The indicator showed sizeable capital outflows recently, and was once again below -0.05. This, combined with the relatively low trading volume following the channel breakout, was a worry for investors.

Source: Glassnode

The MVRV Z-score measured whether the token is undervalued or overvalued relative to its “fair value.”

In March-April 2025, the metric fell to lows last seen in August-November 2024. This suggested that during and just after the channel breakout, ONDO likely formed a market bottom.

Clues of ONDO holders booking profits during the rally

Source: Glassnode

The Spent Output Profit Ratio (SOPR) of Ondo rose to 1.53 on the 9th of May. The metric measures the profitability of holders, and is simply the price sold/price paid.

The increase in the SOPR reading came alongside a 27% rally from $0.86 to $1.1. However, almost immediately, it fell back to 1.01.

This showed that holders’ profits had decreased, even though the price was still around $1.

Source: Santiment

At the same time, the data from Santiment showed that the dormant circulation has not changed dramatically over the past three weeks.

This indicated a lack of ONDO movement from long-term holders’ addresses.

Therefore, the conclusion from the SOPR drop was increased profit-taking from short-term holders. This also explained the lack of movement on the dormant circulation metric.

The mean coin age has been trending higher since mid-March. It briefly dipped on the 8th of May, during the Ondo rally.

This dip suggested some token movement from holders, which was likely profit-taking activity that affected the SOPR.