Ontology Technical analysis

[duncun007 3577]

Today i will be talking about one of my favorite coins Ontology, and will try to provide you with technical analysis and predictions as well.

 

Ontology which ranks 40 in coinmarketcap, is a provider of high-performance public blockchains and supports public blockchain systems that can be customized for different applications. peaking at 1.25 billions dollar marketcap back in June 2018 and a price of 10$, but from there we seen the price tumble all the way down to 0.55$ currently.

 

 

 

ONT partnerships

 

 one of the reasons why I'm bullish on ONT is that recently they have been making partnerships, starting with their google cloud partnerships in july when they publicly revealed that the Ontology (ONT) dev team will now gain exclusive access to the Google Cloud Partner Ecosystem’s innovative tools and technology, Ontology will also take part in google's On Air Event, where they will pitch their ideas to google experts and tech giants. Recently they have also collaborated with Mercedes-Benz to create their "welcome home" in-car system using blockchain technology. 

With the recent Defi craze, Ont has decided to dive into defi world and they became a member of AsiaDefiAlliance which means they will be building a more complete defi ecosystem with their decentralized Identity solutions like Oscore, and this shows the potential bright future that ontology will have.

 

Technical analysis

 

 

ONT hit an all time high back in 2018 but ever since it has been going down, due to the long bear market since 2018 whenever we see it go up the sell pressure would kill the momentum and that resulted in a price drop from an all time high at 117k satoshi to now a little over 4200 satoshi which is the all time low. With the recent news that it might be added to Coinbase I'm indeed extremely bullish on ONT long term.

with the bullish state of bitcoin and the surge from 10k to above 13k it caused Ont to drop sharply and break below its previous ATL of 4730 satoshi. I think right now would be the best time to buy and hodl ONT long term, even tho it might drop down somewhere between 4000-3700 but  i think the upsides and gains in long term would be worth it once it breaks out of this bearish tunnel.

As you can see in the chart  the RSI is at ATL which means the coin is now oversold and on the chance they got listed on Coinbase that will trigger a reversal and the start of the bullish trend.

Edited October 23, 2020 by duncun007

[benalmoh88 1500]

your analysis is logic, we can say that now is good occasion for buy in medium or short term in trading, because the price is very low.

[duncun007 3577]

On 10/23/2020 at 6:54 PM, benalmoh88 said:

your analysis is logic, we can say that now is good occasion for buy in medium or short term in trading, because the price is very low.

yea its a very good project especially in long term holding but keep in mind that this post is not a financial advice but its just a mere prediction with technical  analysis.

[Smallingcane012 344]

The ontology practical analysis it is good to whom it may concern but if it doesn't concerns you just fall your arms.