ONT/USDT - Bullish Triangle PatternHello traders and community, today we will tell ourselves shortly about the situation of ONT/USDT
Trend analysis
- As you can see from the ONT/USDT daily chart, the price of Ontology token is forming symmetrical triangle pattern (white zone on the chart) and also creating cup and handle pattern, that's why we can expect bullish movement (demonstrated on white lane) with 60 % probability. I recommend to wait for trustworthy signal for making a long trade position up to 2,3858 price level. Today's resistance level is on 1,3442 price level, support level is on 0,9838 price level and global trend stays bullish on this pair. Wish you good trades and luck with this token!
Chart pattern
- Symmetrical Triangle Pattern (processing)
- Cup and handle (processing)
Technical indicators
- RSI: market is still in boarders and is located near 57 level (not overheated, Neutral signal)
- MACD: MAs are prepared for upward movement + they get away from each other (Bull signal)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is above the level of MA20 and moving upward (Bull signal)
= Overall bullish signal movement
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P.S.: Information provided is only educational and should not be used to take action in the market.
