The Ontology price since the beginning remained pro-active reducing consolidation for a long time. The quick reaction after each plunge of-let is the unique feature ONT price possess which usually attracts more traders towards the asset. The asset incepted just after the 2018 market slash and recorded highs above $8.
Woefully ever since then, the asset maintained its extreme downtrend which drained the gains and also weakened the rally. Despite all the odds the assert still appears to be pretty poised to hit $1 at the earliest and maintain with a strong uptrend further.
The ONT price began the 2022 trade with a notable bearish trend which slashed the price by more than 37% but luckily the asset also managed to recover by nearly 24%. After hitting the monthly lows around $0.4, the asset flipped with extreme bullish momentum and initiated with an ascending trend. However, the recent plunge broke down the trend and dragged the price below the support levels. Despite repetitive attempts, the asset still remains notably bearish.
|Short Term||The price had bottomed hard and also an attempt to flip from the rock-bottom levels also appears to be in vain|
|Mid Term||The ONT price is plunging hard and about to hit the oversold levels. A minor flip may be expected but it may be short-lived|
|Long Term||The uptrend is appearing to be eased out as the buying pressure is reducing and hence price may experience a notable plunge|
|Technical Indicators||Value(1Hr / 1D)||Action(1Hr /1D)|
|Relative Strength Index(RSI)||32.57 / 46.72||Sell / Neutral|
|MACD (12,26)||-0.0131 / -0.0014||Sell / Sell|
|Average Directional Index(ADX) (14)||33.81 / 27.39||Sell / Buy|
|Average True Value(ATR) (14)||0.0087 / 0.0427||Less Votality / Less Votality|
The Ontology price is extremely bearish in both the time frames as most of the indicators are pointing towards a ‘sell’. While the RSI is bottomed hard sliding below the lower levels, a quick attempt to rebound is also about to fail in STF signifying a huge bearish trend. And in the HTF the RSI has taken a notable bearish divergence, therefore a revisit to lower support appears pre-defined. Conversely, MACD in short term is bullish and hence one can expect a minor bounce while in long term is bearish as selling volume is about to mount.
Despite the trend being bearish, the strength of the rally is gearing up in STF as ADX is surging slowly. Yet the HTF rally is slowly weakening and hence may flip after hitting certain lower levels, hence slightly bullish. On the other hand ATR, the volatility indicator is pointing towards low volatility in both the time frames and hence the asset may be a little risky currently. The rally is superseded by the bears in STF and HTF as the bull/bear power is pretty bearish.
The ONT price at the press time is pretty much distinct from all the important resistance levels. Moreover, the asset may visit the local support as the trend has reversed at the press time and the price is compelled to decline significantly. And hence the token may plunge below $0.5 to hit the immediate support and attempt a bounce from here else could hit the support in the long term.
The Ontology price began the present week trade with a decent uptrend which uplifted the price by more than 16% by the mid-week. However, very quickly the asset fell into a deep bearish trap and dropped nearly 20% in just a couple of days. Additionally, the asset is expected to continue with the downtrend until the day’s close where-in the price may hit the lower support and rebound with huge intensity. However, the trading volume is pretty less and dominated by the sellers and hence the ONT price is losing its value. As the asset reaches the demand zone just below $0.5 huge influx of traders may assist the price to regain the lost value very soon.
Source: Tradingview Date: 12-02-2022 Time:11:55am
The Ontology price began the previous day’s trade with a huge descending trend which continued until the early trading hours and slashed more than 10%. On the other hand, a fair chance of a rebound has also gone in vain as the ONT price is still following the same bearish trend. Technicals are completely bearish and hence the asset may follow a strong bearish trend throughout the weekend. The beginning of the fresh weekly trade may notice a flip yet the intensity and sustainability completely depends on the volume accumulated then.
The ONT price at the press time is $0.5299 with a huge drop of 8.26% compared to the previous day’s close. The trading volume has dropped massively by more than 55% indicating the buyers remain off the track. And hence the market cap also remained plunged by more than 9%, registering around $460.3 million.
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