ONT is currently consolidating within a "falling wedge" pattern and has recently bounced off the support line of this formation. The Ichimoku cloud acts as resistance and coincides with the upper boundary of the wedge.
A breakout above both the wedge and the cloud will confirm a possible bullish reversal. It is recommended to closely monitor the price movement for a breakout or a pullback.
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
#ONT/USDT ANALYSIS
ONT is currently consolidating within a "falling wedge" pattern and has recently bounced off the support line of this formation. The Ichimoku cloud acts as resistance and coincides with the upper boundary of the wedge.
A breakout above both the wedge and the cloud will confirm a possible bullish reversal. It is recommended to closely monitor the price movement for a breakout or a pullback.