ONT has had a strong 48(ish) hours! As we can see above, ONT flirted with the 38.2% level for a few days and getting shot down repeatedly until the Bears got tired and Bulls took charge.
It was all Bulls from there, with two bull flags helping the price run up to the 50% Fib level!! ONT made it's first run around this time yesterday, and as we can see was rejected. It is IMPORTANT to note that not only are the Bulls/Bears both fighting the Fib levels, but we also see the Bulls using the 26MA as support when the Bears pushed the price down last night.
Currently we are testing 50% Fib resistance, and have an inside bar set up that is DYING to break bullish. I also like that the 12MA is closing in on the 50% level with the 26MA not far behind it.
We might see one more push down, support around 1.88-1.90 range, and then another run at the 50% level of 1.949!! It will be interesting to see if the Bulls can BLAST through 1.949 and keep running through 2.00 psychological resistance as well.
If we can break both... :)
J-Dot-Crypto
It was all Bulls from there, with two bull flags helping the price run up to the 50% Fib level!! ONT made it's first run around this time yesterday, and as we can see was rejected. It is IMPORTANT to note that not only are the Bulls/Bears both fighting the Fib levels, but we also see the Bulls using the 26MA as support when the Bears pushed the price down last night.
Currently we are testing 50% Fib resistance, and have an inside bar set up that is DYING to break bullish. I also like that the 12MA is closing in on the 50% level with the 26MA not far behind it.
We might see one more push down, support around 1.88-1.90 range, and then another run at the 50% level of 1.949!! It will be interesting to see if the Bulls can BLAST through 1.949 and keep running through 2.00 psychological resistance as well.
If we can break both... :)
J-Dot-Crypto
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.