ONTOLOGY Price Prediction Today: Daily (ONT) Value Forecast – July 11
- The bears are in control of the short and medium-term outlook.
- Responsible selling at key areas with bearish candlesticks as confirmation.
ONT/USD Medium-term Trend: Bearish
Supply zones: $2.00, $2.50, $3.00
Demand zones: $1.00, $0.80, $0.60
ONTOLOGY is in a downtrend in the medium-term outlook. The strong pressure exercised by the bears on the coin led to the breakdown at $1.30 in the lower demand area of the range during yesterday session. Price dropped to $1.13 as the low of the day with minor correction by the bulls stage a minor comeback and pushed the coin up to $1.25 in the supply area.
Today’s session opened on a bearish note with $1.23 as the opening price. The cryptocurrency plunges to $0.9863 in the demand area with increased bears momentum.
Minor correction may occur as it happened yesterday. This should be taken as a market correction and a confirmation of the bearish continuation in the medium-term.
Price is below the two EMAs that are fanned apart which connotes strength in the trend while the signal of the stochastic oscillator points down at 21% which suggest downward momentum.
ONT/USD Short-term Trend: Bearish
ONTUSD continues in a downtrend in the short-term outlook. The bears resumed the downward movement at the 23.6 fibs, a trend continuation zone during yesterday session. $1.13 in the demand area was the point of further downward movement in price as the bears' temporal loss in momentum.
Today’s 1-hour opening candle at $1.22 was a hammer with the bears taking over the market. ONTUSD fell to $0.9912 in the demand area.
The bulls area are currently in control of the market as confirmed by the signal of the stochastic oscillator which points up at 35% which suggest upward momentum in the short-term.
This may get the coin up to $1.13 around the 10-EMA which has been a strong resistance against upward price movement. This will create a bearish flag before the bears' resumption of the downward journey.
Live Ontology (ONT) Price:
1 ONT/USD =$1.0270 change ~ 4.87%
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