A wallet sent another 4.105 million $ONDO, valued at $1.66 million, to Coinbase, lifting total deposits beyond 8.1 million $ONDO in less than 24 hours.
The latest transfer followed an earlier movement of 4.014 million $ONDO worth $1.62 million, keeping exchange inflows under close watch.
Rather than representing an isolated transaction, the consecutive deposits expanded the amount of $ONDO immediately available on a major trading venue. Such activity often attracts attention because it introduces additional liquid supply into the market.
Selling pressure gained ground on spot markets
Order flow reflected increasing pressure from sellers instead of buyers. The 90-day Spot Taker Cumulative Volume Delta (CVD) remained seller dominant, indicating aggressive market sells outweighed market buys across recent trading activity.
Unlike the Futures market, Spot participants reduced their willingness to chase higher prices despite $ONDO remaining close to resistance.
The imbalance left buyers reacting to supply rather than driving prices higher themselves.
Fresh Coinbase deposits added another layer to that equation because larger exchange balances naturally increased the pool of immediately tradable tokens.
Spot demand therefore faced a tougher assignment, requiring stronger buying interest before the market could comfortably absorb the additional supply without inviting heavier selling.
Derivatives traders ignored the cautious spot picture
While Spot activity leaned defensive, Binance’s largest traders continued positioning for further upside.
Long accounts climbed to 67.98%, leaving 32.02% on the short side and pushing the Long/Short Ratio to 2.12. Those figures revealed conviction among leveraged participants remained firmly intact despite the noticeable rise in exchange-bound transfers.
Instead of reducing exposure, experienced Futures traders continued favoring bullish positions throughout the latest session.
Such divergence rarely settled immediately because Spot traders and derivatives participants often responded to different expectations.
$ONDO enters resistance with buyers losing urgency
$ONDO returned to the $0.4236 supply zone after recovering from the $0.3778 region, placing buyers directly beneath an area that previously rejected advances.
Each recent push higher reached resistance with less follow-through than the previous attempt, reflecting a market gradually losing acceleration instead of abruptly reversing.
The MACD still maintained a bullish crossover because the MACD line remained above the signal line.
However, the shrinking green histogram bars revealed buying pressure weakened while price hovered beneath overhead supply.
Rather than confirming a fresh breakout, the chart described a market waiting for stronger participation before extending higher.
A decisive close above $0.4236 would likely invalidate the recent hesitation.
Failure to reclaim that zone would instead increase the probability of another rotation toward $0.3778, where buyers previously re-entered.
Final Summary
- Exchange-bound $ONDO supply has increased, while spot buyers continue losing ground to sellers.
- Bullish Futures positioning remains strong, but resistance still demands stronger buying conviction.