The registration profile of the ONDO ETF fund by 21Shares has brought this token back into the market spotlight. However, contrary to the positive story surrounding the ETF, the recent price movements of ONDO over the past few weeks have shown a less optimistic reality, as the price continuously hovers around local lows. This situation indicates a lack of strong buying interest and suggests that the market sentiment remains cautious. Investors are watching closely to see if the price will break out of these support levels or continue to decline, which could lead to further downside risks. Overall, despite the renewed attention from the ETF registration, the market dynamics for ONDO remain uncertain and somewhat bearish in the short term.