Good afternoon, guys. I hope you're having a good weekend. I just wanted to highlight a potential buying opportunity for Ontology (ONT) in the short term. Not only is the RSI reaching the lower end of the scale, but the current price on the hourly chart is nearing a previous support level. This may prove to be a decent setup for a short term bounce.
I want to caution you though, please take a look at the daily chart as well. ONT is still in a correction from its all time highs, so this may NOT be the end of the decline in price, just an opportunity to jump in for a small bounce off of the lower levels.
I want to caution you though, please take a look at the daily chart as well. ONT is still in a correction from its all time highs, so this may NOT be the end of the decline in price, just an opportunity to jump in for a small bounce off of the lower levels.