ONT touched the support at the lower band of its bullish channel and which got rejected. We might see further consolidation above 620-630 SATs.
Key resistance levels are 670-680 at the intersection with the long term bearish trend line, if it breaks above that, 750-770 will be next targets.
Strategy: Long at 620-630
Target Price: 670-720-770
ONT is forming a sub wave 4 triangle of the primary wave 3.
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ONT traded within the pitchfork reliably until the btc dump this last few days and has now turned pitchfork support into resistance. Will be watching this as ONT has a pretty good track record of bouncing back suddenly.
. ONT/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
. There is a...
Aside from a few strong performers at the moment (DGB) most alt charts are close to retracing all the way back down to a bottom. Ont looks to be on a clear path back down to the floor also, especially now the main net is live and hype has dissolved.
So yeah, no technical analysis here really, more a tongue in cheek representation of the crypto market right...
ONT is in a channel with a few outcomes. Wait for the breakout of the upper channel and the subsequent re-test of the upper channel as support before buying. It could break above then fall back below (bull trap).
ONT is moving along in a big symmetrical triangle which almost saw a breakout yesterday but was rejected. Its still moving under the cloud but its thinning out and is predicting a kumo twist in the coming days. I will be looking got a break out above the triangle, kumo cloud, and a tk cross on the 4 hour which looks plausible.