- ONT/USD has now been under selling pressure as the bulls couldn't push to the north out of a range market trading zones lately.
- The bears in the ONT/USD trade may soon be relaxing their effort, as there could soon be a consolidation moving mode in the market.
ONT/USD Medium-term Trend: Bearish
- Supply levels: $1.60, $1.70, $1.80
- Demand levels: $1.10, $1, $0.90
ONT/USD market has eventually broken downwards to the south after a long line of variant range price movements. Formerly, the crypto’s price was trading in range zones found around $1.50 and $1.40 market levels.
The market has now been trading at $1.30 low price mark. The Bollinger Middle Band trend-line has bent towards south below the 50-day SMA indicator to indicate the degree of current selling pressure in the market. The Stochastic Oscillators have dipped into the oversold zone.
As the market has been following the trending path of the Bollinger Lower Band to the south in a tight sequential moving order to the $1.30 low point, there is now need to be wary of still following the trend at the said mark. Therefore, the bulls are expected to get set for an entry.
ONT/USD Short-term Trend: Bearish
As at the time of getting set to prepare the ONT/USD short-term analysis, a notable bearish candlestick was formed to push the market out range zones to the south. The ONT/USD short-term trend was in a range before the emergence of the bearish candlestick.
The Bollinger Bands have slightly contracted below the 50-day SMA to indicate that the market is on the path to the south. The Stochastic Oscillators have crossed at range 60 to point south.
Indicators now distinctively point that the bears are still in control of this crypto-market. Therefore, Price levels between $1.20 and $1.15 marks may be obtained if the bears hold on to their current strength in the market.
Live Ontology (ONT) Price:
1 ONT/USD =$1.3969 change ~ -3.84%
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