Ontology, one of the major gainers in the intraday amongst the top 100 cryptos of the global market, is seen gaining over 12% in the intraday and currently trades at $0.465 after testing supports as low as $0.335 in the past two days. Although Ontology is falling in the 2nd half of the top 100 cryptos, it has strengthened notably from the YTD bottom of $0.205 hit in March to strengthening by over 400% to hit a high at $1.01 in the previous quarter.
Ontology kept declining after having strengthened from the YTD low in August, and it was just two days back when ONT/USD tested supports to as low as $0.335, back to the levels when it was testing towards the end of March 2020.
Ontology has been the most volatile over the past two months, and in due course of a downward correction, it has lost steady support from 50-day and 200-day daily MA. However, as per Ontology price prediction and technical analysis, ONT will reflect a positive breakout in the upcoming months.
Ontology Price Analysis
At the press time, Ontology was seen reflecting the major intraday recovery of over 10% and 12% and is, therefore, trading above $0.45 at $0.465. After having broken the major supports, ONT/USD breached the lower 20-day Bollinger Band with a long bearish candle and, in the way, lost 50-day MA support.
The MACD chart confirmed the bearish divergence, but after the intraday recovery of over 10%, it shows a flattish curve, Therefore, as per Ontology Price Prediction, the MACD line is likely to cross above the signal line if it continues to gain with the same momentum. Due to the gain in the ONT token’s intraday price, the RSI is seen rising from the utter bottom and lies at 42.43.
