- The price is at its last support level, near its all-time low.
- The current demand zone is strong but the bears are pushing the price down frequently.
- The RSI is bearish while the MACD is bullish.
ONT coin was launched in March 2018. At the start, the coin struggled to gain bullish momentum and its value dipped to a low of $0.144 in December 2022. However, 2023 turned out to be bullish for the ONT investors. During these days, the coin saw a bullish run and broke through two major resistance levels. It managed to hold steady above these levels, which was a positive sign for investors.
However, after reaching a high of $0.31, the market saw some corrections and the ONT coin underwent a bearish phase. However, this phase did not last for long. The bulls made a strong comeback after finding support at the $0.187 level, pushing the ONT coin to achieve its year-to-date high of $0.352. However, following this peak, a bearish trend has been noticeable in ONT’s price action.
ONT Coin Price Technical Analysis and Prediction
Currently, the coin has broken all its major support levels and is trading at $0.157. This is its immediate support level of $0.1509 and it appears to be a strong demand zone. On the other hand, the immediate resistance for the bulls is at $0.1874.
The coin has been hovering around this level for some time now, but if a strong bullish momentum is seen, it is likely to break through and reach the next resistance level. Beyond these levels, there is a second resistance level at $0.225 which is a round-off level as the coin is near its all-time low. Meanwhile, a second support level is at $0.128.
MACD and RSI indicators
The MACD indicator is showing a bullish crossover that was made between the MACD line and its EMA back at the very start of this September. At the time of writing, the MACD is at -0.0039 while its EMA is down below at -0.0051. This indicates a rise in the strength of the bulls in recent times.
The RSI is showing a sudden drop in bullish strength. After touching its oversold level of 24 back in August, there was a bounce-off in the RSI line. At present, the RSI seemed to suddenly drop to its SMA line at 40. However, if the ONT coin price bounces off its support, the RSI can reflect a strength in the bulls.
Conclusion
The price prediction for the ONT coin will be bullish if the price bounces off the immediate support level of $0.1509. However, the bulls will have to push past the 50 EMA which is before the first resistance. If things go south, the price is likely to fall to a level of $0.1280.
Technical Levels
Support: $0.1509,$0.1280
Resistance: $0.1874, $0.2250
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.