- The short and medium-term outlook is in the uptrend.
- Responsible buying at pullback area may be considered.
ONT/USD Medium-term Trend: Bullish
Supply zones: $2.00, $2.50, $3.00
Demand zones: $0.80, $0.60, $0.40
ONTOLOGY is in the uptrend in the medium-term outlook. Attaining the target at $0.9000 on 15th July and a further drop in the cryptocurrency price to $0.7640 in the demand area, gave the bears market dominance.
The momentum was lost after several attempts by the bear to pushed further were rejected. It was a key demand area that was also tested on 5th March before the bullish rally.
The bulls are gradually in control with the bullish spinning top formed after yesterday opening at $0.7937. ONTUSD rose to $0.8947 before the end of the session. Today’s session opened with a bullish engulfing candle at $0.8449 on a bullish note with $0.9908 in the supply area already attained.
Price is above the 10-EMA and the signal of the stochastic oscillator points up at 73% which implies upward momentum in price in the medium-term with minor correction as the bulls journey up north.
ONT/USD Short-term Trend: Bullish
ONTUSD is in a bullish trend in the short-term outlook. The bulls resume the momentum at $0.8255 after the correction shortly after today’s opening session. The coin rose to $0.9906 in the supply area before momentum loss as the bears' return for another correction.
The bears may push the coin to $0.8000 at the 50-EMA which is at the trendline. This was confirmed by the signal of the stochastic oscillator pointing down at %, which implies downward momentum before exhaustion. A bounce to the upside is most expected each touch on the line.
$0.1000 in the supply area is the bulls target in the short-term.
Live Ontology (ONT) Price:
1 ONT/USD =$0.3590 change ~ -0.41%
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