ONT Technical Analysis: Suspicious Calm Dormant Volcano
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During the trading week of 17 January, this trend line was won by sellers. Looking at the trading volumes and the fullness of the weekly candle, there was no struggle. Since then, the ONT price hasn't been able to grow above the $0.63 mark. In fact, the ONT price has been trading below the global trend line for 4 months in the form of correction. At the same time, trading volumes are the lowest for the last year. This position of buyers clearly shows at least the unwillingness to form a new wave of growth.
While the $0.63 mark is under the control of sellers, we expect the ONT price to continue falling with the first target of $0.35. This mark is the previous local low from December 2021. If sellers meet resistance in this mark - this will confirm the slowdown in the downward trend. In this case, the first target for a price rebound will be at $0.45. But, for the complete reversal of the market, the importance of taking control of $0.63 remains key.
Technical Analysis Of ONT On The Daily Timeframe
While the price is moving peacefully in the corrective green growth channel, the price has reached the lower limit of the channel at the time of writing. The mark of $0.45, which on the daily timeframe more than once in 4 months stopped and deployed the ONT price under the control of buyers.
Therefore, from the local perspective, we expect continued price movements in the green growth channel and test its midline. For safe purchase of the ONT cryptocurrency it is necessary to wait for new depletion of sellers in the range of $0.45. The daily candle of 18 April is the beginning of local aggression of sellers. In the case of an increase in trading volumes on small timeframes (4 hours), investors will have a good chance of buying ONT with low risks. The first target range is $0.63 and the final one is $0.74.
The ONTBTC Price In Dormant Volcano Mode
Analyzing the movement of the ONTBTC price on the weekly timeframe, we can see that the situation in terms of trading volumes and volatility from December 2021 has not changed at all. The price is peacefully at a critical level of 0.00001240, below which there is an abyss for the price of about 50-60% down. At the moment, it is not entirely clear what is happening in this illiquidity and low-volume consolidation: gaining a position for a new growth wave or the capitulation of buyers before the fall.
Therefore, in the case of ONT cryptocurrency trading, you should leave stop orders so as not to lose your investment by 50-60% indefinitely. It is possible to buy ONT cryptocurrency much more confidently after fixing the ONTBTC price above the 0.000018 mark. This range includes a global trend line of sellers, which has not released a price since April 2019. Therefore, maximum caution is the main phrase that now characterizes the investment in ONT cryptocurrency.