ONT/USDC Analysis – Is the Correction Over, or Are We Waiting for a New Low?
ONT is currently undergoing a critical test of its support levels following a 4.50% decline. Technically, the price is struggling to maintain its position above the 0.04000 mark after a wave of profit-taking that began at the local peak of 0.04351.
Key Technical Insights:
Moving Averages: Trading below the EMA 99 exerts significant downward pressure on the price. Breaking above the 0.04123 level is the only way to regain bullish momentum.
MACD Indicator: It remains in the red zone, reflecting seller dominance; however, bearish momentum is starting to show early signs of exhaustion.
Recommendation: Keep a close eye on the 0.04000 level. Holding this support could lead to a rebound toward 0.04300. A break below 0.03891 would completely invalidate the bullish scenario.
At this stage, patience is a professional trader's best friend. Do not rush in before a confirmed breakout to ensure you don't fall into a "fakeout" trap.
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