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- 1 The ONT coin price showcased rounding bottom formation and has retested the 20-day EMA mark.
- 2 The Bulls are persisted in accumulation and looking to surpass the $0.4000.
The ONT (Ontology) coin price showcased bullish structure and is trading in the bullish trajectory, reflecting the bulls dominance on the charts. Moreover, the coin has showcased the rounding bottom formation and a breakout was noted in the recent sessions. However, the neckline support zone of $0.3700 was retested and the coin is getting ready for a pullback soon.
At press time, the Ontology (ONT) price was trading at $0.3701 with an intraday gain of 8.89%, reflecting bullishness on the charts. It has a monthly return ratio of 41.90% and 61.80% on a yearly basis. The pair of ONT/BTC is at 0.0000523 BTC, and the market cap is $226.79 Million. Analysts are bullish and suggest that ONT price may continue to extend the gains and may surpass the $0.4000 mark soon.
ONT Price-to-Volume Profile Reveals Bullishness
The above data shows the price-to-volume profile of the Ontology coin (ONT), which reveals bullish data. The price action showcased the buyer accumulation, and the trend is bullish, implying the outperformance of the past weeks. Furthermore, the trading volume remained average, noting around $46.21 million.
Price Volatility and Sentiment Analysis
The data indicates minimal moves in the price volatility, and the volatility curve showcased neutrality. The value remained average near 0.035, signifying the fluctuations. However, the total weighted sentiment value remained below the midline and stayed in the negative zone near -0.162.
Social Dominance and Twitter Follower Outlook
Amidst the up move, the social dominance value continued dragging and the value slipped below the neutral mark reached 0.023%, signifying the low investor activity on the social media discussions. However, the Twitter follower data noted a steep decline, and the value slipped to 3036.
Development Activity and Whales Total Supply Overview
The data shows that the development activity remained average, and the value stands near 0.167. However, the percentage of stablecoin activity by whales was increasing consistently, and the value rose to 53.116, showcasing the positive whale activity.
Per the Fib levels, the coin has sustained above the 50% zone and is close to the 61.8% zone, showing the outperformance of the past sessions.
The total supply of the ONT coin is 1 billion, and the volume to market cap ratio is 0.194. However, the Relative Strength Index (RSI) curve stayed in the overbought zone, forming a positive divergence on the charts. The MACD indicator shows a bullish crossover and outperformance for the past weeks.
Summary
The Ontology (ONT) coin price showcases buying momentum and trades in the bullish region. Moreover, the coin is decisively holding the gains and is ready to lift the gains toward the upside of $0.4000 soon.
Technical Levels
Support Levels: $0.3500 and $0.3300
Resistance Levels: $0.4000 and $0.4200
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
