Chainlink and Ondo Dip Presents Short-Lived Buying Opportunity
A recent sell-off saw Chainlink (LINK) fall over 15% and Ondo (ONDO) drop nearly 20% within a week, driven by broader market volatility and profit-taking ahead of upcoming DeFi protocol upgrades. Despite the pullback, both projects remain fundamentally strong: Chainlink’s oracle network is poised for growth with new Layer-2 integrations, while Ondo’s upcoming token unlock is offset by institutional demand for its tokenized treasuries. Technical indicators show LINK testing a key $12.50 support level and ONDO nearing its 50-day moving average. On-chain data reveals stable whale accumulation for both tokens. Traders could view the dip as a buying opportunity, targeting a rebound to $15 for LINK and $1.10 for ONDO if broader markets recover.
Bullish
The strong fundamentals of both Chainlink and Ondo, combined with whale accumulation and upcoming protocol upgrades, suggest the current sell-off is a temporary correction. Historical precedents—such as LINK’s post-aave integration dip in 2021—showed rapid recoveries once new features went live. Technical support at $12.50 for LINK and the 50-day moving average for ONDO provide clear entry points. In the short term, traders may see rebounds back to resistance levels as market volatility eases. Over the longer term, continued adoption of oracle solutions and tokenized treasuries could drive sustained price appreciation.