Bitcoinik team has done the technical analysis of Ontology (ONT). A sweet symmetrical triangle is found on the 4-hour timeframe. Those who are looking for a fresh entry in ONT will place their orders around 2300-2350 sats.
ONT next movement is shown by the yellow lines and we are positive that the symmetrical triangle breaks upwards. Targets are given by T1 and T2. Sell 40 percent of your holdings at first target around 2850-2900. Midterm targets for ONT is 3800-3900 sell remaining holding at these points.
ONT market is currently testing the Fibonacci golden ratio of 0.32 and will bounce back from there. If the symmetrical triangle breaks downward the purple box works as support. The main support is around 1950-2050. If you are entering in this trade a stop-loss is recommended.
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