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Cryptoknowmics 2022-04-22 10:39:24

ONT Technical Analysis: Another Bullish Strike At The 100-day EMA

ONT coin price shows a sudden surge in the underlying bullishness with a 7% rise within a day. Will the uptrend surpass the 100-day EMA? Key technical points: The 50-and-100-day EMA pressurized the bullish emergency rally. The daily-RSI sets foot into the bullish territory. Finally, the intraday trading volume of Ontology is $106 Million, with a 302% spike in the last 24 hours. Past Performance of ONT ONT coin price action shows a bullish reversal from the $0.45 support level and surpasses the 50-day EMA. The reversal rally accounts for an 18% jump in the last two weeks and shows higher price rejection from the 100-day EMA. However, the sellers at $0.60 are relatively more robust than the buyers fueling the uptrend. Source-Tradingview ONT Technical Analysis ONT coin price shows a sharp V-shaped reversal struggling to reach the $0.60 level as it remains a resistance confluence with the 100-day EMA. Hence, traders must wait for the daily candle to close above the level for a buying entry signal. The downsloping daily EMAs (50, 100, and 200) turn sideways, indicating a positive sentiment building up in traders. However, the 100-day EMA aligned with the $0.6-$0.59 resistance strengthened the seller’s defense. MACD Indicator: The MACD and the signals lines provide a bullish crossover in the negative region, attracting more buyers to the market. Moreover, a possible crossover above the neutral zone would give additional confirmation...

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