ONDO token breaks key resistance amid rising exchange activity and heavy long liquidations

Ondo Finance moved 150 million ONDO tokens to a team-linked wallet before a surge in exchange deposits, including 18.83 million ONDO sent to Coinbase, signaling potential selling pressure. Despite this, the team still holds significant ONDO reserves, suggesting control over a large supply. ONDO's price broke out from a long consolidation phase, reclaiming key resistance levels near $0.356 and approaching $0.459, with RSI indicating strong buying momentum but also overbought conditions. The breakout led to heavy long liquidations exceeding $390K as volatility spiked, showing aggressive buying followed by leveraged position flushes. Traders are watching if further exchange deposits occur and whether ONDO can maintain its breakout above $0.356 to push higher or face a retracement.