Ondo US Dollar Yield (USDY) is currently priced at $1.096, reflecting a 24-hour change of -2.07%. The price has fluctuated between a high of $1.12 and a low of $1.093 in the past day, indicating a tight daily range of 0.027%.

Trading volume over the past 24 hours stands at approximately 3.29 million USDY, with a volume-to-market cap ratio of 0.48%, suggesting relatively low liquidity in the market. The hourly moving averages show a consistent decline, with the 8, 13, and 21 SMA all reporting losses of around -0.9%, indicating bearish momentum in the short term.

The 1-hour RSI is currently at 43, nearing oversold territory, while the 7-day RSI at 49 shows that momentum is neutral but could lean towards bearish if downward pressure persists. Over the last week, USDY has experienced a price drop of approximately -1.13%, highlighting a bearish trend that has persisted for the past 14 and 30 days as well.

The all-time high for USDY was $1.26, recorded on March 27, 2024, which sets a resistance level that the asset has struggled to reach since. Given the current technical indicators and price action, combined with the ongoing bearish sentiment in the market, the outlook appears to be negative in the short term.

Based on the analysis of price movements, RSI indicators, and moving averages, I recommend a Hold rating for USDY. This recommendation is due to the asset's current price being relatively stable around $1.10, and while there are signs of weakness, a significant rebound may occur if it maintains above the $1.09 support level.