Ondo Finance targets $0.665 as SBI partnership strengthens Asian expansion

ONDO price recovers with strong upside target

ONDO currently trades at $0.3853, recording a 24-hour trading volume of $86.75 million and a market capitalization of $1.87 billion. Despite a slight dip of 1.47% over the last day, technical indicators point to a reversal, with signals suggesting the end of several weeks of downward price action.

Crypto Patel, a well-known analyst, has identified a confirmed breakout above ONDO’s descending channel. This technical move is viewed as an early sign of a shifting trend, and investors are monitoring whether support will hold in the critical range between $0.378 and $0.35. Maintaining this level would help solidify positive sentiment in the broader crypto market.

A sustained rebound from this area could act as a catalyst, potentially driving ONDO toward a target price of $0.665. This represents an upside of approximately 82% from the current support level. A stop loss is set at $0.339, indicating increased risk should the price fall below this threshold.

SBI partnership boosts RWA tokenization in Asia

The latest data from Ondo Finance highlights its deepening collaboration with SBI Group, a major player in Japan’s finance sector. Together, the two firms aim to bring Japanese financial assets onto the blockchain, advancing real-world asset (RWA) tokenization across the region.

The partnership leverages Ondo’s blockchain infrastructure with SBI’s network in the Japanese financial system. This initiative is expected to facilitate the tokenization of traditional assets and strengthen the adoption of blockchain technology by institutional clients in Asia.

Mini dictionary: SBI Group, a large Japanese financial services company, has interests in banking, securities, and asset management, and is known for its openness to blockchain innovation and digital asset development.

Yoshitaka Kitao, chief executive of SBI Holdings, described Ondo as an exceptional company within the tokenization sector for its efforts to connect traditional finance and blockchain technology. The partnership also supports integration with SBI’s yen-backed stablecoin, underlining Japan’s commitment to expanding its digital asset footprint.

Yoshitaka Kitao considers Ondo to be a leader in linking conventional finance with blockchain technology, emphasizing the value of collaboration for accelerating asset tokenization in Japan.

Market outlook remains cautiously optimistic

Although price forecasts are optimistic and the ONDO network continues to expand, ONDO’s price is still consolidating after a broader pullback. Analysts believe that an improvement in overall crypto market conditions could trigger further upside if ONDO maintains its support level.

Market watchers cite the importance of the $0.378-$0.35 range as a foundation for the next upward move. A successful retest near this support could push ONDO toward the $0.665 target, while a breakdown below would likely prompt renewed selling pressure. The evolving partnership with SBI will remain significant for ONDO’s prospects in institutional asset tokenization.

Technical and strategic developments suggest that ONDO’s momentum depends on maintaining key support, with market sentiment tied closely to progress in asset tokenization and the SBI partnership.