• The short and medium-term outlook is in the uptrend.
• Responsible buying recommended.

ONT/USD Medium-term Trend: Bullish

Supply zones: $2.00, $2.20, $2.40
Demand zones: $1.00, $0.80, $0.60

ONTOLOGY is in a bullish trend in the medium-term outlook. The bulls successfully broke$1.54 in the upper supply area of the ranging market on 22nd June.  Price shut up to $1.54 in the supply area.

The market correction was necessary hence the drop in price to $1.47. The bullish continuation has kept making high higher each day with $1.82 in the upper supply area as yesterday high.

Today’s session opened with the bulls sustaining the momentum up to $1.86 before a brief loss to the bears.

ONTUSD was down to $1.65 in the demand area around the resistance at 10-EMA as the candle closed with a wick. This area is the 38.2 fib level a trend continuation zone.

The bulls are in control of the market as price stays above the two EMAs. Minor draw down may occur but the bulls target remain $2.00 in the supply area in the medium-term.

ONT/USD Short-term Trend: Bullish

ONTUSD is in an uptrend in the short-term outlook. The formation of higher highs and high lows during yesterday market confirmed the bulls dominance. $1.81 in the supply area was yesterday highest high.

Today market opened on a bullish note with a new high at $1.85 before the loss in momentum as the candles closed with wicks.

$1.67 in the demand area within the EMAs was the low attained as the bears lost momentum.

The signal of the stochastic oscillator points up at 61% and price is above the two EMAs an indication of upward momentum in price in the short-term.

$1.90 in the supply area is the bulls initial target with more candle opened and closed above the two EMAs.

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