Ondo's upward surge hits temporary standstill, yet optimistic technicals suggest further growth potential remains intact
Ondo price cooled slightly on Monday after surging to its highest level of the year, though the broader technical structure still points to growing bullish momentum across the tokenized real-world asset sector.
According to data from crypto.news, Ondo ($ONDO) price traded around $0.41 at press time on May 12 after recently rallying to highs near $0.47. The token has gained more than 60% over the past week following a sharp breakout from its multi-month consolidation range.
The latest rally comes as investor optimism around tokenized financial assets continues accelerating following several major institutional developments tied to Ondo’s ecosystem.
One of the biggest catalysts emerged after Ondo Finance expanded its tokenized stocks and ETF products to Hyperliquid’s HyperEVM network through the Ondo Bridge, powered by LayerZero.
The rollout allows eligible users to transfer 35 tokenized assets, including SPYon, QQQon, NVDAon, TSLAon, and GOOGLon, from Ethereum and BNB Chain directly onto HyperEVM.
The integration significantly expands access to on-chain equity exposure across one of crypto’s most liquid trading ecosystems while enabling more advanced strategies such as funding rate arbitrage, basis trading, portfolio hedging, and delta-neutral positioning.
Investor sentiment also remained strong following Ondo’s earlier institutional partnerships involving JPMorgan’s Kinexys, Mastercard, Ripple, and the DTCC’s tokenization working group.
At the same time, Ondo continues benefiting from strong growth across its tokenized treasury ecosystem, with rising total value locked and expanding institutional participation helping reinforce long-term optimism around the project.
On the daily chart, $ONDO recently confirmed a powerful breakout above the major horizontal resistance zone near $0.30 after spending several months consolidating between roughly $0.24 and $0.30.
Ondo price, Supertrend, and RSI chart — May 12 | Source: crypto.news
The breakout triggered aggressive upside momentum that pushed $ONDO toward yearly highs near the $0.47 resistance region, which now acts as the next major barrier bulls need to reclaim.
The rally also pushed price firmly above the Supertrend indicator, which has now flipped bullish after remaining bearish for much of the first quarter.
Momentum indicators continue to favor the bulls despite some short-term cooling signals. The RSI recently climbed above 71, briefly entering overbought territory before beginning to stabilize. Such conditions often lead to temporary consolidation phases following strong vertical rallies.
Even so, $ONDO continues holding well above the former breakout zone near $0.30, suggesting buyers still maintain broader control over the trend structure.
If bullish momentum resumes, bulls could attempt another breakout toward the key $0.47 resistance zone. A decisive move above that level could potentially open the door toward higher resistance regions not seen since late 2025.
On the downside, failure to hold above the $0.30 breakout support could weaken the bullish structure and potentially trigger a pullback toward the previous consolidation range near $0.24.