Ontology is an open-source protocol that primarily focuses on the creation of decentralized identity and data. It is agile, highly scalable, and facilitates cross-chain functionality. High speed and security are other features of this network. ONT is the native token of this ecosystem. The ONT technical analysis is as follows:

Past Performance

On May 11, 2021, ONT opened at $2.32. On May 17, 2021, ONT closed at $1.81. Thus, in the past week, the ONT price has decreased by roughly 22%. In the last 24 hours, ONT has traded between $1.79-$1.92.

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Day-Ahead and Tomorrow

Currently, ONT is trading at $1.90. The price has increased from the day’s opening price of $1.81. Thus, the market seems to be bullish.

The MACD and signal lines have just turned positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Hence, the overall market momentum is positive. Hence, we can expect the price to go up further.

Currently, the RSI indicator is at 72% in the ‘overbought’ region. Thus, buying pressures are very high. In other words, like the MACD indicator, the RSI indicator is also pointing towards a further price rise.

The A/D indicator has fallen steeply. But, for the past few minutes, it has been rising steadily. Thus, accumulation activity is slowly building. Hence, the A/D indicator is giving further credence to the bullish signals given by the other oscillators. Hence, the price will continue to increase.

ONT Technical Analysis

Currently, the price has broken out of the first Fibonacci pivot resistance level of $1.88. It may also break out of the subsequent resistance levels of $1.92 and $1.97, respectively, in some time.

The price has tested and broken out of the 23.6% FIB retracement level of $1.88. It may soon break out of the 23.6% FIB extension level of $1.95 as well. Thus, the bulls seem strong, and we can expect the price upswing to continue today and tomorrow.