ONT/BTC drop done or one more Leg down? Ontology support zones
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Ontology looked to be topping already, and then BTC went ballistic.
ONT fared better than many Alts/BTC and held expected supports.
Correction MAY be done, but one more leg down is quite possible.
Red 4.236 was the minimum expected retrace even before BTC spike.
Red 3.618 has shown some strength with a precise bounce at 2848.
Red 5.618 will be final support if BTC makes another strong move.
Immediate concern is the resistance zone at 3100.
Break and hold of 3100 invalidates the ABC plotted.
2500 would be a great entry if price reaches that low.
.
ONT fared better than many Alts/BTC and held expected supports.
Correction MAY be done, but one more leg down is quite possible.
Red 4.236 was the minimum expected retrace even before BTC spike.
Red 3.618 has shown some strength with a precise bounce at 2848.
Red 5.618 will be final support if BTC makes another strong move.
Immediate concern is the resistance zone at 3100.
Break and hold of 3100 invalidates the ABC plotted.
2500 would be a great entry if price reaches that low.
.
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