ONT Technical Analysis: 30% Hike Awaits Triangle Breakout

ONT coin price resonates within the triangle pattern and hints at a sharp bullish rally with a potential breakout to reach the 200-day EMA. Key technical points: ONT coin price rests at $0.50. In addition, the 50-day EMA continues to provide dynamic resistance. Finally, the 24-hour trading volume of Ontology is $46 Million, marking a 10% fall. Past Performance of ONT ONT coin price forms a symmetrical triangle pattern as bulls put the lower low formation on hold. However, the constant rejection from the 50-day EMA moving along with the resistance trendline reflects a solid selling pressure in action. Hence, it increases the fallout chances of the newer and weaker support trendline. Source-Tradingview ONT Technical Analysis ONT coin price shows a morning star-led reversal in the triangle pattern from the 50-day EMA and hints of an upcoming fall to the $0.48 mark. However, the prolonged support trendline will fall below the $0.45 mark. The crucial EMAs (50, 100, and 200) maintain a bearish alignment, with the rally finding constant rejection at the 50-day EMA. However, the triangle breakout could result in a price jump to the 200-day EMA at $0.71. RSI Indicator: The RSI slope continues the sideways movement near the halfway line and shows no significant bullish divergence. Furthermore, the 14-day SMA shows a parabolic trend teasing a reversal. MACD Indicator: The MACD and signal give a new bullish crossover reflecting a surge in...