- ONT price continues to move in an uptrend with a formation of a bullish engulfing pattern on the daily chart. It can soon cross beyond $1 in the future
- Technical indicators of Ontology suggest a bullish momentum in price. In contrast, ONT/BTC pair has seen a gain of more than 10% in the intraday session
Why Invest In ONT Crypto?
ONT crypto price is currently trading in an uptrend and can soon see the new highs being formed. Ontology price is currently trading near the value of $0.8 and has seen a gain of more than 8.2% in the intraday session. The asset has a negative ROI but can soon see a positive one. Ontology platform offers its users a variety of use cases which 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. The project came into existence in 2018 and Li jun is the founder of it. It offers cross-chain collaboration and Layer 2 scalability, for businesses. The asset price is currently in an uptrend and can soon cross the previous resistance. ONT/BTC pair can also observe a strong bullish momentum in future. One can wait for the price action before investing in Ontology.
Technical Indicators Suggests A Strong Bullish Momentum In ONT Crypto Price
The weekly technical chart of Ontology suggests a strong uptrend in price for upcoming days. On the daily chart, the price has formed a bullish engulfing pattern. Ontology resistance while going upwards can be seen near the value of $1. The bounceback region for the price on the downside can be seen near $0.3. The price is trailing above the 50 and below 100 Daily Moving Average. The price can soon cross above the 100MA resistance. There is a formation of an upside parallel channel on the Ontology coin price. If the price breaks above the channel then a rally upto $2 can be seen. One can expect a significant upside move in the ONT/BTC pair in the upcoming days
Conclusion
ONT crypto price has seen great jumps in the past and the current bull trend will push it further beyond. ONT/BTC pair can also see a breakout from the previous resistance of the past.
Technical Levels
Major Support:$0.3
Major Resistance:$1