of ontology (ONT) prices fell to an all-time low on November 14th.
ONT price It has been declining since reaching a high of $2.96 in May 2021. The downward move will bring it to an all-time low of $0.15 in November 2022.
The drop also broke the $0.35 area, which previously served as the lowest support in history. The area has turned into a resistance (red icon).
Technical analysis indicators show no bullish signs.You can see this in the weekly RSIis declining, below 50 and no bullish divergence has occurred. As a result, the ontology’s price forecast is considered bearish.
If the downtrend continues, $0.015 is likely to find support. This is made using the 1.61 external Fib retracement on the latest bounce.
ONT prices are trading at all-time lows, so Fib levels should be used to find potential support levels.
Ontology pricing faces critical resistance
The daily timeframe echoes the weekly bearish outlook.
Ontology’s price has been in downward resistance since May 15th. This line he rejected ONT on Nov. 8, starting the current downward movement.
Moreover, the line is currently matching the 0.618 Fib retracement resistance level at $0.22. This further highlights the importance of the $0.20 resistance area.
Finally, the daily RSI is approaching the 50 line from below. Therefore, it may be rejected (red icon).
As a result, Ontology’s price forecast is considered bearish until ONT’s price crosses the resistance line.
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