- ONT?USD market now appears to start recovering in a range moving mote from a bearish pressure.
- The bulls have to keep $1.40 and $1.30 market levels from a breakdown to continue to make notable effects in this trade.
ONT/USD Medium-term Trend: Ranging
- Supply levels: $1.60, $1.70, $1.80
- Demand levels: $1.20, $1.10, $1
ONT market operations have been on a note of increase somewhat to the price valuation of the US dollar about a couple of days. According to the 4-hour trade chart, the market experienced a chain of choppy market movements between June 7 and 9.
On the succeeding trading day, a sudden spike occurred to the north, and that has lured the ONT/USD market into a range moving mote over the 50-day SMA indicator. The trend-lines of the Bollinger Bands are now a bit opened wider to indicate the possibility of witnessing more range price movements in the market. The Stochastic Oscillators have also made a confirmation of the current range moving mode of the market by slantingly bent briefly past range 60.
The bulls may still have to maintain their momentum between $1.40 and $1.30 market levels to continue to make notable effects in this trade.
ONT/USD Short-term Trend: Ranging
The price worth of Ontology paired with the US dollar market’s stance has been leading to seeing a series of choppy price movements majorly over the 50-day SMA indicator. Yesterday, the market saw a bullish trend outlook.
The SMA indicator’s trend-line has found lying around the Bollinger Lower Band to indicate a strong point at $1.40 mark. Price has now only been hovering around the said mark. An attempt now seems to be made by the Stochastic Oscillators to suggest a reversal that could lead to probably seeing ups than downs in the market.
However, if the ONT/USD trade lacks the energy to move northward from the current SMA’s location around $1.40 mark, then, the bears may resume pushing the market line downward slowly.
Live Ontology (ONT) Price:
1 ONT/USD =$1.4535 change ~ 0.05%
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