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Cryptocurrency
by Seth Parker on August 17, 2018

Ontology Analysis – Target on the 3 USD

Another coin and another spectacular upswing. Not as great as on the Verge but still good – we are up 18% on the Ontology. Previously, we mentioned this coin on the 1st of August and we were negative. Is the current upswing fresh or we made a mistake? This is what we wrote back then, when the price was on 2,52 USD:

“Technical analysis did not disappoint and the ONT broke the 3 USD, making new mid-term lows. Breakout is still fresh and should result with a further decline. Sell signal will be cancelled, when the price will come back above the 3 USD, which for now, is less likely to happen. „

Ontology Chart

On Monday, we reached lows on the 1.04 USD and that is the local bottom for this coin. Another day, another great call from our analytical team! Since Monday, the price is reversing, almost without any stop. Today, buyers are breaking the mid-term down trendline (red), which is additionally strengthening the demand. As for now, the sentiment is positive and we should see the continuation of a pullback. The target for this is the yellow area around the 3 USD, which previously was an important support.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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