ONTOLOGY Price Prediction Today: Daily (ONT) Value Forecast – July 3
- The medium-term is in a downtrend while the short-term outlook is in a range-bound market.
- Patience is required trading a ranging market.
ONT/USD Medium-term Trend: Bearish
Supply zones: $1.80, $1.90, $2.00
Demand zones: $1.00, $0.80, $0.60
ONTOLOGY remains in a bearish trend in the medium-term outlook. The bullish doji at $1.26 in the demand area signaled exhaustion and a trend reversal during yesterday session.
The correction of the bearish impulsive move was necessary hence the reversal ONTUSD rose to $1.45 in the supply area as the bulls sustained the momentum after today’s opening session.
This supply area is the 38.2 fibs a trend continuation zone. Likewise, the presence of wicks in this area denotes exhaustion and rejection of upward price movement. Thus the return of the bears is imminent in the medium term.
Price is below the 50-EMA a strong resistance area while the signal of the stochastic oscillator points up at 57% which suggest a minor upward price movement before the bears' strong comeback.
$1.20 in the demand area is on the card after a break down at $1.20 in the demand area with stronger pressure form the bears.
ONT/USD Short-term Trend: Ranging
ONTUSD is in consolidation in the short-term outlook. After the push of the coin to $1.27 in the demand area during trading yesterday, the bears lost momentum. the formation of an inverted hammer signaled trend reversal as the bull gradually return. Price rose to $1.41 as the cryptocurrency ranges in the short-term.
The signal of the stochastic oscillator is parallel at 45% and price hovers around the two EMAs that are twin together which is a sign of an undefined trend.
$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.
Live Ontology (ONT) Price:
1 ONT/USD =$0.9171 change ~ 5.60%
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