• ONT/USD trade operations have been featuring in the direction of southbound along with the trend-line of the Bollinger Lower Band.
• While the pair tries to move upward, it may encounter resistance around a near high value at $0.95 mark.

ONT/USD Medium-term Trend: Bearish

• Resistance levels: $1.20, $1.30, $1.40
• Support levels: $0.70, $0.60, $0.50

ONT/USD trading activities had once featured around $1.10 price line over time until the first two 4-hour Japanese trading candlesticks emerged on July 14. The subsequent candlesticks have been going in the direction of southbound along with the trend-line of the Bollinger Lower Band.

The 50-day SMA and the Bollinger upper Band are both nearly located around $1.20 price point. The Stochastic Oscillators now dip into the oversold to briefly point north at range 20.

The downward trend of this market may still be extended if the bears succeed in opposing the bulls’ possibility of rebounding past $0.90 market value. In another side of the sentiment, the $0.90 and $0.80 market lines are due to experience a chain of price movements as well.

ONT/USD Short-term Trend: Ranging

The ONT/USD market in the short-term run has been hovering around $0.90 and $0.85 market lines today as at the time of writing. The market fell in a stylish way characterized by variant price moves to the south. The 50-day SMA is located over the Bollinger Band trend-lines. The Stochastic Oscillators now appear like making an attempt to close the hairs below range 60.

The pair may encounter resistance around a near high value at $0.95 mark. And, the bears may most likely take the market advantage again form that point of presumed weakness of the bulls. The 50-day SMA indicator will play a crucial role in the bulls’ probable upsurge in the market afterward, especially while broken northward.

Ontology:

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