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by Seth Parker on August 27th, 2018

Ontology Analysis – The target has changed but the sentiment did not

In the group of the biggest crypto gainers today, we can also see the Ontology, which starts the week with a 5% upswing. Previously, we mentioned this coin on the 17th of August and surprisingly, we were positive:

“As for now, the sentiment is positive and we should see the continuation of a pull back. The target for this is the yellow area around the 3 USD, which previously was an important support. „

ontology chart

Although that target was not yet reached, we uphold our positive outlook on this altcoin. Since those words were written, the price did not go higher or lower but entered the sideways trend and created the symmetric triangle pattern (red lines). Today, we mention this coin because the price is breaking the upper line of this pattern and is aiming higher. This breakout is a technical invitation to go long on this instrument. The potential target for this upswing is higher now and is the blue resistance on the 4 USD. Chances that we will get there are quite high.

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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