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Price Analysis

Ontology Price Analysis: Ontology (ONT) Could Yield A Return Of 150% In 2019

Last year during the same time on May 5, Ontology was trading at its all-time high of 11.18 USD.  The same year on December 15, it touched a low of 0.438009 USD.

With the digitalization of health care on the rise, many announcements of Andy Ji, the Co-Founder of Ontology on May 27 could increase the confidence of its traders and investors for a boost in its price.

The announcements of Ontology on March 27 in Dublin:

  • ISO or the International Organization of Standardization of health care has accepted Ontology use case proposals. It also approved the recruitment management at the ISO/TC 307 meeting. It endorses the ONT ID and blockchain technology’s empowerment in real business.
  • Support of ONT token by CryptoNinjas and Crypto.com, which is a cryptocurrency payment and wallet app
  • The process of developing a project in cross-chain swaps with Ethereum and EOS to enable the movement of assessments across blockchains

Announcements by Ontology made previous to this meet and in 2019:

  • Ontology brings in PAX stable coin to its network
  • On May 2nd Ontology announced its partnership with Japanese technology accelerator, TECHFUND. Apart from strengthening the Sino-Japanese collaboration in the blockchain space, this partnership will increase the adoption of Ontology technology in Japan.
  • TECHFUND will be using ONT ID for its KUC/AML use cases and STO solutions.

All the above positive announcements this year has increased the ONT price. From its start in 2019 at 0.58, it is now trading 150% higher. Reviving from its all-time low in December last year it has risen steadily to the current price.  With such a steep fall it is bound to correct fast by this year being supported by various positive developments.

May 29, 2019, Price Statistics of ONT at  2:04 UTC

Ontology price chart

Ranking in cryptocurrency list of CoinMarketCap22
Return of Investment (ROI)-44.66%
Total Circulation494,757,215 ONT
Market Cap in USD719,226,595
Current Price in USD1.45
Current Price in BTC0.00016784
24 hours traded volume101,067,109
25 days price change35.51%

May 29 intraday movements of ONT:

Today it opened at 1.47 and is trading in a narrow range of 1.44 to 1.48.  If it cuts the yesterday’s low of 1.44, a downside could be seen for the day’s trading. For upside trade for the day, it has to cut 1.53. Until then, it could be another day of range-bound trading.

Value Comparisons & Predictions:

With a steep rise in 2019 at a high of 1.69 reached on April 4 it was a rise from its starting the year at 0.58, increase of 191%. Even its May 16 high of 1.62 was not able to cut the three months high of 1.69 USD.  Hence it remains the primary resistance on the upper side. On the downside, 1.44 seems to be the significant support level. If it cuts 1.44 with volume, it may slide back to 1 dollar mark. But once if it cuts the 1.69 it is bound to reach the following predictions calculated from current price.

PeriodPriceChange in %
1 week1.6916.55
1 Month2.572.41
6 months3.55144.82
1 Year5.35268.96
5 years8.87511.72

Conclusion:

2019 has been a good year for ONT so far due to the various positive announcements. With an increase in volume and cutting the significant level of 1.69 USD will take ONT to the predicted prices without a doubt.  Investing in ONT could bring in a return of 145% return by the end of this year.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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