ONT - Breakout? ✅Let's see how ONT is behaving.
This is a 4H chart. (Mid Term)
ONT is pumping. The strongest local resistance has passed, and we're waiting for breakout confirmations to open long positions.
Watch out for those resistance levels.
Support levels: 0.6
Resistance Area: 0.6790
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing BUY volumes for ONT.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that ONT is above the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $0.6518
Let me know your ideas.
Good luck.
