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Ontology

One last trade before going downHi kids. So ONT: USDT is clearly in a descending triangle, which is of course a bearish pattern. Looks like we may have one last trade around the 0,618 fib (0,58 USDT), which is now also a resistance line. but it's also possible that it will hit the triangle's resistance line around 0,60 - 0,61 USDT. That means you have a sell range of 0.58 to approximately 0,61 USDT. The 1day RSI supports an increase in price and on the 4h chart level you can see the MACD curving to the upside, thus starting a short run up to the resistance lines. After that the sell-off will probably start. We can see that the first support line will be the FIB Line around 0,43 USDT, and if that breaks we will see much deeper levels. Good luck with your trades. **This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** See the 4H chart below
Short
by PietParHAM
Ontology (ONT) and a study of accumulationHey guys, this is my first time doing a chart on ONT. I actually decided to buy into this coin using some NANO profits and redistributing a bit. I ended up staking, because I heard the rewards are great for your first year. I also thought it would be a good thing to hold some along with NEO. The reason I bought it goes beyond staking rewards though. This is a risk, I'll admit, but I think we're seeing accumulation. Someone could have argued that we were seeing accumulation after the August dump, but if you take a look at the volume profiles (circled), you'll see that they're very different. Not only are we experiencing very decent volume this time around, but we're actually slowly moving UP in value rather than slowly moving DOWN. However, we're currently capped by the triangle resistance. It's currently close to 1800. I just wanted to post this chart for personal reference. Potential bullish targets are in green X's. I'm not touching this for a while though. Now is the time when I walk away and wait for my investments to eventually bring me a return. Time will tell if I made the right decision. The whole space is risky, so this is not financial advice. Projects like NEO and ONT could very well go to zero. But...crypto does have a habit of coming back. Only risk what you're willing to lose though. Potential trade setup (although this is going to be a long hold for me): BUY if we break out of the triangle (currently around 1800, minus a little). SELL: 2200 3200 Again, not financial advice. I could be wrong and this could break down, which is why I included a possible short setup as well. If we do break down here, we do have another potential rising support in the 1595-1600 area. It's very close now. If that support breaks, this was likely a big bear flag. Trade safe! SHORT setup: Below 1590, target 1400. -Victor Cobra BY THE WAY, if anyone is interested in staking ONT, make SURE you withdraw some ONG, as you can't claim ONG without having ONG in the first place. It's quite convoluted, and I had to request on an O3 community thread to have a small amount of ONG sent to my address. Thankfully, they do have an active thread where they're sending free ONG to people who get stuck.
Long
by VictorCobra