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.
More hope than TA!
ONT has long hold potential and this ambitious chart is only to free up the one chart space free account holders have.
Don't take this as accurate technical analysis or a prediction... I could be p*ssing in the wind