ONTOLOGY Price Prediction Today: Daily (ONT) Value Forecast – July 10
- The short-term is in a downtrend while the medium-term outlook is in a range-bound market.
- Patience should be exercised for a breakdown or breakout before taking a decision in during consolidation.
ONT/USD Medium-term Trend: Ranging
Supply zones: $2.00, $2.50, $3.00
Demand zones: $1.00, $0.80, $0.60
ONTOLOGY is in a range-bound market in the medium-term outlook. The bears returned shortly after yesterday opening session when the coin was up at $1.44. The wick in the opening candle coupled with subsequent candles confirmed the bears' takeover in the range.
ONTUSD plunges to $1.31 before the end of yesterday session. The market opens today with the bears in full control as price fell further down to $1.29 at the lower demand area of the range.
Price is below the two EMAs and the signal of the stochastic oscillator points down at 18% in the oversold region which suggest downward continuation price of the cryptocurrency as the bears sustained the pressure within the range.
$1.50 is the upper supply area of the range while $1.30 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.
ONT/USD Short-term Trend: Bearish
ONTUSD is in a downtrend in the short-term outlook. The pullback by the bulls after the bears' pressure that dropped the coin to $1.31 in the demand area got the coin back t the 78.6 fib area at $1.42.
Continuation of the downward journey pushed the cryptocurrency to $1.36 while the bullish momentum was exhausted at $1.39 which was the 61.8 fib shortly after today’s opening.
Price was down to $1.29 in the demand area but the area of the bull pulling back as confirmed by the signal of the stochastic oscillator that points up at 23%. This may get price up to the 38.2 fibs before the resumption of downward continuation.
A breakout at the demand area is probable as the bears increase their momentum in the short-term.
Live Ontology (ONT) Price:
1 ONT/USD =$0.8535 change ~ 1.48%
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