- ONT price bears are on a continuous move to push the price further below. The negative crossover in DMA of ontology can push the price further below
- Ontology coin technical indicators hint at a downtrend till $0.42. In contrast, ONT/BTC pair is observing a upside momentum with a gain of 2%
Why Invest In ONT Coin?
Ontology coin is currently trading near the value of $0.61 with an intraday loss of 1.8%. It has a negative ROI which has been a negative point for the investors. The platform of Ontology offers its users a variety of use cases that includes allowing businesses to build their own blockchain on top of the ONT platform. It gives businesses more flexibility which allows them to create customized blockchains for their governance and security. Li jun was the brain behind the project and it came into existence in 2018.. It offers cross-chain collaboration and Layer 2 scalability, for businesses. The asset price has reached $10 and stayed there for some time after being listed on Binance . The price of the coin is currently observing a downtrend but can soon revert back to the normal. One can wait for the price action before diving into the project
Technical Indicators Suggests The Start Of Bullish Momentum For ONT Coin Price
The weekly technical chart of the asset suggests a downtrend in price for upcoming days. On the daily chart, the price is showing a sign of recovery but with a weak strength. Ontology resistance while going up can be observed near the value of $1. The bounceback region for the price on the downside can be seen near $0.3. The price is trailing below the 50 and 100 Exponential Moving Average. There is a negative crossover in the moving average which can push the price down. The 50EMA (RED) line is near $1.14, making it a temporary resistance for the asset price. One can expect a significant move in the ONT/BTC pair in the future.
Conclusion
ONT coin price has seen great jumps in the past but it has been erased in the recent downtrend. It is up by more than 300% from last year’s trading price. ONT/BTC pair can see a breakout from the previous resistance of the past. An Investor should do their due diligence before investing.
Technical Levels
Major Support:$0.3
Major Resistance:$1