$ONT

ETHUSDT
Διην.
0,273
+7.65%

ONT/USDT Market Analysis – Daily Chart Update

Hello Traders!

Let's dive into the latest market action on ONT/USDT, focusing on the daily chart from Binance. The price is currently sitting at $0.2654, reflecting a solid +9.53% gain in the last 24 hours. This breakout has brought ONT into a critical technical zone, making it a chart worth watching closely.

Key Price Levels:

Current Price: $0.2654

Resistance Zone: $0.35 - $0.40

Support Zone: $0.20 - $0.25

24H High: $0.2834

24H Low: $0.2383

Market Structure Analysis:

✅ Resistance Zone Test: The price has reached a significant historical resistance zone around $0.35 - $0.40, where sellers have previously dominated. A strong breakout above this could signal a bullish continuation.

✅ Support Zone Holding Strong: The blue support zone between $0.20 - $0.25 has proven to be a solid demand area. Buyers have consistently stepped in at this level, making it a critical floor to watch in case of a price retracement.

✅ Volume Spike: The recent volume surge (72.77M USDT) indicates heightened market activity, often a sign of increasing investor interest and potential trend continuation.

Technical Outlook & Trade Setup:

1. Bullish Scenario: If the price breaks above the resistance zone of $0.35, it could open the doors for a rally towards the next psychological resistance at $0.50.

2. Bearish Scenario: Failure to hold above the current support zone around $0.25 could see ONT retest lower levels around $0.20 or even $0.15.

3. Consolidation Possibility: A sideways movement between the current support and resistance zones could suggest market indecision and the need for stronger catalysts.

Key Indicators to Watch:

RSI: Check for overbought/oversold conditions.

Volume: Continued high volume could confirm the breakout.

Trendlines: Watch for any break of trendline structures.

Final Thoughts:

📈 Bullish Bias: If the resistance is broken with volume confirmation.

📉 Bearish Alert: If price loses the current support zone.

🎯 Strategy: Wait for clear confirmation before taking long positions.

What are your thoughts on ONT's price action? Share your market insights below and let's grow together!

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