ONGUSDT trade ideas
ONG/USDT Analysis (TECHnical AND FUNDamental) What is ๐Ontology Gas๐?
Ontology gas (ONG) is one of 2 crypto assets that power the Ontology blockchain, a business-focused, high performance (can handle many transactions at once) blockchain that focuses on solving problems like identity security and data integrity (accuracy and consistency of data).
Ontology gas came into existence on June 30, 2018, when the Ontology project launched its mainnet, or transitioned from using another blockchain (NEO) to its own native blockchain.
โ๏ธWhat is Ontology Gas Used for?
In the Ontology ecosystem, Ontology coin (ONT) gives ONT holders two things:
---1 Governance rights - have a say in things like changes to the network
---2 Staking rewards - by staking, or locking up, your ONT, you contribute to the security of the network by helping verify transactions. In return, the network grants you ONG
On the other hand, you can think of Ontology gas as a โtoll feeโ to use the Ontology โhighwayโ or network. In this way, itโs similar to gas on Ethereum. But instead of paying in the main cryptocurrency, ONT, like you would with Ethereum (paying in ETH), the Ontology network makes you pay for network usage (e.g. making a transaction) using a separate token (ONG).
As mentioned, staking ONT grants ONT stakers ONG rewards. This means that ONG presents an interesting opportunity, even if you donโt use the Ontology platform for its intended use cases like identity security.
By staking ONT, you can earn โpassiveโ ONG income for your part in securing the network (even if you donโt use it for anything other than staking rewards).
Indeed, the rewards arenโt too bad - according to ONTCalc, an ONG rewards calculator, you can expect your yearly โinterestโ rate, or percentage of ONG you earn on your ONT, to be ~4%.
Compare that to your average US bank savings account interest of 0.06% (in other words, ONG pays ~67x more per year), and thatโs not a bad use of your money. Especially when you consider that:
1 .ONT is a top 25 crypto by market capitalization (a cryptoโs price multiplied by its circulating, or usable, supply)
2 . The company behind the Ontology project, Onchain, is also the same company behind NEO, a top 20 cryptocurrency
3. Onchain was named one of KPMGโs (one of the Big Four accounting firms) top 50 Chinese fintech companies
4 . Onchain has worked on blockchain solutions for Alibaba (Chinese Amazon.com)
5 . ...and more
All in all, using ONT to generate ONG is a nice way to earn extra money with your crypto.
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โ๏ธQuick Technical Analysis
As you can see in the logarithmic chart above, ONG has formed a cup pattern and may or may not complete its handle. In this case, there is a better opportunity to buy step By step in several times, but according to this bullish market condition , it is possible at any moment in an aggressive and explosive move, to reach resistance at $ 0.67 and $ 1.20 & then then 4$, respectively. Then for up to two months OR more , we can even see incredible growth of up to about 3,000% or more Which will surprise us ! But keep in mind that this market is a possibility but also these growths are not out of reach and stranger for those who have worked in this market.
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๐This analysis is my personal opinion and you are responsible for your own trades or invests.
โค๏ธwith Best Regards and successful trades
Crypto|ONG/USDT|LongLong ONG/USDT
Activation of the transaction only when the blue zone is fixed/broken.
The idea is to work out the resistance level .
* Possible closing of a trade before reaching the take/stop zone. The author can close the deal for subjective reasons, this does not completely cancel the idea and is not a call to the same action, you can continue working out the idea according to your data, but without the support of the author.
+ Maybe right now we will go even lower, then it's okay, the idea is not activated and simply canceled.
The "forecast" tool is used for more noticeable display of % (for the place of the usual % scale) of the price change, I do not put the date and time of the transaction, only %.
Blue zones - activation zones.
Green zones - take zones.
The red zone - stop zone.
Working out the stop when the price returns to the level after activation + fixing in the red zone.
Orange arrow - the direction of take.
Blue arrow - neutral scenario without activating the trade.
The red arrow - the direction of the stop.
SUM PNL: This parameter displays the total % of all closed ideas of the "new" format (according to the author) for this sector at the time of publication of the idea. The calculation is very "clumsy" just the sum of the profits of all the ideas, based on this indicator, you can more accurately assess the risks when working with my ideas of this sector. I present you the construction of the idea, you can use it yourself as you like based on your subjective view and risks, the calculation of the PNL indicator is carried out only on transactions that the author closed on TV in manual mode or by take.
P.S Please use RM (risk management) and MM (money management) if you decide to use my ideas, there will always be unprofitable ideas, this will definitely happen, the goal of the system is that there will be more profitable ideas at a distance.
Ontology Gas ONGUSDT - Head and Shoulders + Pump soon +1000%!- Ontology Gas is absolutely ready for a massive breakout to the upside!
- On the weekly chart we can see Head and shoulders reversal pattern + Ascending triangle.
- Expected duration of the trade, Stop Loss, Profit Target, Entry Price and Risk To Reward Ratio - for more information, please check my signature below โ
- The price is currently breaking out to new local highs.
- Bullish volume is very high, as you can see on the indicator.
- RSI is forming an ascending triangle.
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