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
When 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.