Price Analysis

Ontology (ONT) Tests Major Support as it Trades at $0.85

eToro

Ontology, after breaching the 6-month resistance with constant strengthening after the major market crash in March, is currently trading at $0.857. ONT has been one of the stupefying altcoins and has been a gainer just at the onset of the year when the price rose above $1, as high as $1.09.

On the other hand, Ontology has lured many strategic partnerships but is yet to restore price above $1 that it exhibited at the beginning of 2020. Moreover, ONT/USD after testing support as low as $0.290 during the major sell-off due to the Pandemic, has now spurred by over 190% in 5 months.

eToro Crypto

Ontology Price Analysis

Ontology (ONT) Price News
ONT/USD Chart By TradingView

Ontology has been one of the great performing altcoins amongst the top 50 of the global crypto market and draws a notable uptrend since the 1st week of the ongoing month. However, as we draw towards the closing of the month, ONT/USD appears bearish as it tests immediate support below $1. Moreover, it was just in the previous week when ONT had risen above $1.0 briefly and had even breached the upper Bollinger Band.

ONT coin is drawing an intraday bearish crossover on the 5-hourly chart against the greenback with a volatile momentum. With a higher high pattern drawn, the currency has tested support as low as $0.61 just at the onset of the month, and as per the current trading price, the major support lies at $0.80 and $0.75.

Ontology has already lost support from MA50 on a 5-hourly chart against the USD but is away from breaching lower band around $0.80. However, the intraday movement has been moderately promising as the ONT price rose from the bottom of $0.81 to $0.915 in the past 24 hours, but due to volatility, it is now below $0.90.

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.

Related Articles

Back to top button