$ONT running out of steam? đ Watch out for the downside!
Ontology ($ONT) continues its struggle, with the price hovering just under $0.17. The 99-day moving average at $0.1694 looms overhead, creating strong resistance that ONT hasn't managed to break through in weeks. The 7-day and 25-day moving averages are both descending, indicating that short-term momentum remains bearish. MACD is flat, with both lines close to zero, showing that the bulls just don't have the strength to push the price higher.
Volume has been decreasing as well, hovering around 242K, which suggests that interest in $ONT is fading. Without significant volume or momentum, itâs hard to see a breakout happening anytime soon. We may even see $ONT test lower support levels around $0.15 if selling pressure continues.
If youâre holding $ONT, brace yourself for potential downside risks. The market seems to be leaning towards another leg down, unless something big shifts in the market sentiment.
