• The short and medium-term outlook is in the uptrend.
• Traders may look to buy at bearish exhaustion areas.

ONT/USD Medium-term Trend: Bullish

Supply zones: $1.60, $1.70, $1.80
Demand zones: $1.00, $0.80, $0.60

ONTOLOGY remains in a bullish trend in the medium-term outlook. The bulls attempt to push price above yesterday high of $1.49 was lost before the end of the session. The bears returned and dropped price to $1.38 in the demand area.

The momentum to the downside is currently on with today’s 4-hour opening candle at $1.42 but this is temporal.

The support at the 50-EMA remains strong as long as price is above this it suggests that the bulls are in control of the market. The bears may push further to the 50-EMA to repeat the scenario of 11th June before the bulls stage a return and push price up in the medium-term.

The stochastic oscillator signal points down at 42% which confirm the drawdown by the bears and price below the 10-EMA. These suggest a brief bears’ control.

ONT/USD Short-term Trend: Bullish

ONTUSD remains in a bullish trend in the short-term outlook. The bulls remained in control of the market with today’s 1-hour opening candle at $1.42. A minor correction to the downside is currently ongoing with the low at $1.40 in the demand area.

The presence of bullish reversal candlestick pattern of a pinbar signaled the bulls may take control and continue the upward price movement.

The stochastic oscillator signal points down at % a reflection of the drawdown by the bears. Price is below the two EMAs which justify sellers’ presence in the market which may soon be taken over by the buyers.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.