US Labor Market Slowdown Impacts Crypto
- Weak Employment Data: The ADP report indicates that private employers added only 98,000 jobs in June, significantly below the 118,000 forecast, reflecting a decelerating economy that may prompt the Fed to cut rates earlier, impacting liquidity in the crypto market.
- Market Expectation Shift: The softening labor market has led to a rapid reassessment of the odds for a September rate cut, a change that typically provides liquidity support for risk assets, particularly cryptocurrencies like Bitcoin and Ethereum.
- Macroeconomic Impact: Weak ADP figures usually push bond yields lower and weaken the dollar, both of which have historically coincided with crypto rallies in the post-pandemic cycle, suggesting potential liquidity shifts ahead.
- Ongoing Policy Risks: Despite rising rate cut expectations, uncertainty remains regarding U.S. digital asset regulation, as traditional banks attempt to dilute a landmark crypto market structure bill, which could blunt the market's response to more favorable monetary conditions.
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Technical Analysis for ONDO
Technical Sentiment Analysis for Ondo (ONDO). As of , Ondo (ONDO) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ONDO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ONDO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ondo (ONDO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.252 | 0.274 | 0.297 | 0.318 | 0.341 | 0.363 | 0.386 |
| Fibonacci | 0.274 | 0.291 | 0.301 | 0.318 | 0.335 | 0.346 | 0.363 |
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