Ondo Finance's performance has recently seen a positive uptick, with a rise of over 4% in the last 24 hours and a nearly 13% increase in trading volume following the downfall of MANTRA's OM token. This shift in capital flow appears to be favoring other RWA-focused projects like ONDO, which is now gaining momentum based on various technical indicators.

Key technical indicators, such as the EMA lines forming a golden cross and signals from DMI and CMF pointing towards growing bullish pressure and decreasing selling interest, indicate a potential rally for ONDO towards the $1.20 mark if it can surpass key resistance levels.

The DMI chart for ONDO reveals that the ADX has decreased to 28 from 36, highlighting a weakening trend strength after a period of strong directional movement, possibly leading to a phase of market consolidation or hesitation as traders reassess the next moves for ONDO.

Furthermore, ONDO's CMF has shown improvement, moving from -0.17 to -0.06, indicating a decreased selling pressure and a possible return of buying interest. This positive shift in investor sentiment could be attributed to the collapse of MANTRA's OM token, leading capital to flow into other RWA coins like ONDO.

The formation of a golden cross on ONDO's EMA lines signals a potential upwards trend, with a test of the $0.956 resistance level expected in the short term. If ONDO successfully surpasses this resistance, it could rally towards the $1.20 mark, reinforcing the bullish sentiment and attracting more buyers. However, failure to maintain momentum could result in a price drop below key support levels, potentially leading to a deeper correction.