Ontology Price Squeeze Inviting Buyers
Ontology is one of the NEO tokens, and all of them seem to be extremely undervalued at this stage. Current price action shows the price squeeze and ONT could be just about to break above the downtrend trendline.
There are two interesting facts: First is that the price has reached and cleanly rejected the 227.2% Fibonacci support, that is $1.03 - an extremely strong psychological support as well! Second is that the new Fibonacci time zone cycle has just started, meaning that the timing for the buying opportunity could not get any better.
But at the same time, to confirm trend reversal, price has to break above the downtrend trendline. When/if that occurs, price could ether start rising slowly or potentially skyrocket without much notice.
First resistance is of course near the previous high at $12, and of course $10 psychological level should be watched. Break above previous high might push as high as $100 in the medium to long term.
There are two interesting facts: First is that the price has reached and cleanly rejected the 227.2% Fibonacci support, that is $1.03 - an extremely strong psychological support as well! Second is that the new Fibonacci time zone cycle has just started, meaning that the timing for the buying opportunity could not get any better.
But at the same time, to confirm trend reversal, price has to break above the downtrend trendline. When/if that occurs, price could ether start rising slowly or potentially skyrocket without much notice.
First resistance is of course near the previous high at $12, and of course $10 psychological level should be watched. Break above previous high might push as high as $100 in the medium to long term.
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