Ondo's Pain Train Keeps Chugging: Longs Get Rekt as Bears Party Below $0.25

Ondo ($ONDO) is getting absolutely cooked, folks. The RWA token is staring at $0.2400 support like it's a cliff edge—and the bears are doing victory laps on Thursday, probably ordering pizza to celebrate.

The derivatives scene? Total slaughterhouse. Futures Open Interest took a 6% nosedive to $81.84 million as long positions got absolutely vaporized. CoinGlass data shows $99,730 in total liquidations over 24 hours—and $93,410 of that was longs getting rekt. That's not a liquidation, that's a massacre with extra guacamole.

Funding rate sitting at -0.0007% and long-to-short ratio at 0.9342? That's the bearish equivalent of waving a white flag while crying. Traders are clearly not feeling optimistic here—more like they're hiding under their desks.

The technicals aren't doing $ONDO any favors either. Price is hovering around $0.2500 after a lovely 5% drop from the 50-day EMA at $0.2700. Those 100-day and 200-day EMAs at $0.3186 and $0.4420? Way up in the stratosphere, mocking any hope of a recovery like your ex's new relationship Instagram story.

RSI at 44 hanging below the 50 midline, MACD printing negative—classic bearish vibes with extra bearish sauce. Downside targets? February 9 and 6 lows at $0.2405 and $0.2018 are the line in the sand. Break below $0.2000 and it's open season for further losses, baby.

The US-Iran ceasefire news isn't helping sentiment across the broader crypto market either. Because apparently, world peace is bearish now. Fun times.