Ondo Finance token faces selling pressure, struggles to break resistance above $0.43

The Ondo Finance (ONDO) token saw a 2.24% rally in the past 24 hours but remains in a downtrend after an 11.3% drop since July 30. The decline followed token deposits to Coinbase, which may have triggered selling pressure. Despite a breakout from a descending triangle pattern, ONDO failed to establish a bullish trend, with dominant sell orders and weak buying pressure. The token faces resistance at $0.43 and could drop further to $0.36 or even $0.30 if selling continues. A move above $0.47 is needed to reverse the bearish trend. Ondo Finance also appointed Adam Schlisman as CFO, signaling strategic developments amid market challenges.