Technical analysis ONT. ONT-BTC on July 25, 2018

July 26, 2018


On 28th of July, we warned about the price fall of this asset. The current price level can be the reversal one for the market and the further downtrend can be canceled. On the middle timeframes, we can see the formation of the downtrend wedge and the market demonstrates the background for the impulsive breakout through the upper edge of the pattern. Also, we can see the divergence of RSI and the price movement, which is also a good factor for the growth continuation. The regular correction can follow after the impulsive breakout as a result of which it can try come back to the wedge, if this happens the indicated support is broken ONT can follow the downtrend. If the impulse is strong enough and the market has enough volume, the consolidation above the resistance 4500 will push the market to the higher levels.

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