Should you invest in ONDO as its trading approaches ATH today

CoinTelegraph reports:
ONDO has seen a decrease of more than 1.4% in the past 24 hours, with substantial buying pressure on the token.
While some cryptocurrencies have brought substantial profits to investors in the last 24 hours, ONDO has other plans. Indeed, its price has declined during that period.
However, investors should not be discouraged as ONDO is at a crucial level that could soon trigger a bull market.
Should you buy ONDO?
According to CoinMarketCap, ONDO’s price turned bearish on July 7th, dropping over 1.4% in the past 24 hours. At the time of writing, the token trades at $0.9838, with a market cap exceeding $12.36 billion.
Analysis from IntoTheBlock data by AMBCrypto shows 65% of ONDO investors are profitable, involving over 34,000 addresses.
Meanwhile, prominent cryptocurrency analyst and investor Mister Crypto recently tweeted, highlighting an interesting development. According to the tweet, the token’s price is within a support range.
A successful test could trigger a significant bull market rebound, potentially retesting its June high points. Hence, this might be the opportune moment for investors to buy the token at a lower price.
Buying pressure has been substantial.
As it appears to be a good opportunity to accumulate ONDO, AMBCrypto analyzed Santiment data to ascertain whether investors have begun buying the token.
We found a significant surge in token outflows, implying massive buying pressure.
Additionally, supply on exchanges has decreased while off-exchange supply has increased, further confirming investors’ accumulation of ONDO.
AMBCrypto’s analysis of the token’s daily chart reveals another bullish signal. We observed a bullish flag pattern forming on the token’s chart.
After reaching its all-time high in June, the token’s price began consolidating within a pattern. A successful breakout could potentially lead the token to retest its ATH before reaching $1.237.
Technical indicators show an uptick in Chaikin Money Flow (CMF). Moreover, the Money Flow Index (MFI) is trending north towards neutral, suggesting a high likelihood of ONDO successfully testing bullish market signal patterns.
Nevertheless, MACD exhibits a clear bearish dominance in the market.
Reading ONDO’s 2024-25 price forecast
Our analysis of Hyblock Capital data indicates the token’s settlement could rise towards $1.079. Therefore, breaking through this key level is crucial as high settlement rates often lead to short-term price adjustments.
If this scenario unfolds, the path to Athens would be quite clear. However, if bears dominate, the token’s price could drop to $0.88.