Is ONDO crypto’s bounce worth trusting? 2 timeframes tell different stories

Ondo [ONDO] has bounced 6.6% from the $0.41 low it formed on Sunday, the 18th of October. Despite the small bounce, Ondo crypto was still down 10% over the past week's trading. Compared to Bitcoin's [BTC] performance of a 2.1% weekly drawdown, it appeared that ONDO bulls displayed relative weakness that could soon turn into a downtrend. Last week, the altcoin market cap, including Ethereum [ETH], fell nearly 8% from $1.13 trillion to $1.05 trillion. Bitcoin spot ETFs saw net outflows of $228.4 million from the 12th to the 16th of October. These factors helped explain the Ondo crypto decline. Can the bulls stage a comeback? Can Ondo crypto hold its bullish footing? On the 1-day timeframe, the $0.425 level had been a supply zone from June to late September.

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