Price Analysis

Ontology Gains Over 30% in 2 Weeks and Trades Above $0.70

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Ontology has been gaining an edge in the altcoin market and has drawn an uptrend straight after the market crash in March. With a bullish intraday momentum, ONT/USD bullish candlewick of the price trend is hitting the upper 20-day BB.

Ontology, which otherwise was seen trading laterally, is now supported by Binance as a growing and developing blockchain. With the recent rise in price ONT token, the 20-day BB is seen gradually widening projecting towards a hint of volatility.

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Ontology Price Analysis

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ONT/USD Chart By TradingView

On the 24-hourly chart, Ontology is seen luring notable momentum with intermittent bearish candlewick as it trades as $0.71 as it reclaims 4-month height. With the recent price spike since the start of the ongoing month, Ontology has gained over 30% in 2 weeks, from trading around $0.53 to currently trading above $0.71. The coin is retaining complete support from 50-day and 200-day Moving Averages at $0.590 and $0.576 on the 24-hourly chart.

Ontology is definitely not that altcoin which is belonging to the group of Ethereum and XRP, which otherwise are deemed to have influence from Bitcoin. Ontology, with a gradually developed blockchain platform, is luring networkers through the recent price action and elevated blockchain services in all the possible sectors. These third-generation cryptos have been making enough developments in the crypto space and blockchain world to enable crypto-based working and efficiency.

The technicals laid confirm intraday bullishness as the MACD crosses above the signal line after having gained over 30% in 15 days, and the RSI also remains inclined towards the overbought region at 67.70. The major support to watch out for lies at $0.65, and the resistance lies at $0.80.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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