September 5 Coin of the Day: Ontology (ONT)

Ontology (ONT) is among the altcoins that we see today. We analyzed the latest situation of the ONT token against BTC and its upward potential.

Based on the Ontology (ONTBTC) daily outlook, August seems to break its uptrend. Affected by the general market decline, the altcoin seems to hold on to an average of 600 sats in the market decline.

Ontology – ONTBTC daily chart

ontbtcWhen we look at the price movements of the last 2 days, we see that the last short-term downtrend has corrected. Looking at the chart, the Stoch RSI daily outlook indicates oversold. Forecasting, we can see an upward rise in ONTBTC pair with yesterday’s closing price of 644 hours after the day’s closing. Because at these levels, the Stoch RSI is likely to exceed 20.

 

Also, the day close above the Fib 0.236 value from the last high and low levels can trigger the rise. Accordingly, for Ontology, the first target will be the 665-670 sats range. Then, prices of 700 – 734 and 780 sats can be targeted, respectively. Day closing below 600 sats may cause further losses in the ONTBTC pair.

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Disclaimer: The information in the content is not an investment advice. Author and coinalways.com are not responsible for your profit or loss. Every investment involves risks and requires knowledge.

Coin Analistahttps://coinalways.com
Building his career on finance and banking, the veteran analyst decided to devote his experience to cryptocurrencies and forex. Co-founder @ Coin Always.

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