Ontology News

Ontology Draws an Uptrend with a Glimpse of Expanding Volatility

Ontology (ONT) has been marking proud partnerships resulting in high-class experiences for the networkers as a smart platform with a high performing blockchain. The platform aims at solving issues related to identity security and data integrity—maintaining accuracy and consistency. In lieu of these partnerships, it was just in the previous week when Ontology announced its unification with Rosetta, which is an open-source project powered by Coinbase. This is to enable simple, quick, and reliable blockchain solutions with ONT’s knowledge, engineering, and technical expertise.

And, it was just yesterday, in the immediate succeeding week after the partnership with Rosetta, yet another powerful integration was marked between Ontology and Chainlink. This is likely to work towards efficient and easy-going transaction fees to encourage smart contract applications to real and existing data. Chainlink—a decentralized oracle network, will now be adhered to Ontology’s fast, user-friendly platform and infrastructure to mitigate businesses with tools to enable their own secure blockchain solutions.

Moreover, the platform is making it all worth to entice these partnerships and integrations by ticking upgrades and developments. ONT’s recent self-sovereign data wallet is the newest and the latest version of ONTO with features like data management with an organized process to protect and endorse the data.

Embracing the popularity of the network, Ontology has lured enough social attention amongst the other altcoins of the market. The social presence of the coin is getting better day-by-day and is recently holding an atypical price movement; ONT/USD reclaims 3-month resistance at $0.6753.

Ontology Price Analysis

Ontology News
ONT/USD Chart By TradingView

On the 12-hourly chart, Ontology is drawing an uptrend right after the massive sell-off in March, against the US Dollar. It was just in the early hours of the trading session today that the coin gained stupefying momentum and breached a 3-month long resistance. On the given long-term chart, Ontology is retaining steady support from daily 50-day and 200-day MA at $0.576 and $0.467, respectively. On the same 12-hourly chart, the 20-day Bollinger Bands are seen widening as the intraday gains momentum, and the price trend of ONT/USD is hitting the upper band.

ONT News

And, if we emphasize on the month-to-date movement of the currency, we see that the intraday has been drawing a positive crossover after a flat yet bearish crossover and like the expanding volatility in the long-term, Ontology is volatile in the short-term as well. However, the gained momentum has led to retain steady support at $0.573 and $0.541.

The other technicals laid are confirming the bullish intraday, and the MACD is seen crossing above the signal line. Due to increased momentum, the demand of the altcoin is seen spiking; therefore, the RSI of Ontology is hitting above the overbought region at 76.78.

Mehak Punjabi

Mehak Punjabi is a post-graduate in MBA with a specialization in Finance and has joined CryptonewsZ with a skill-building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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