ONT / USDT. Downlink. Local uptrend. Trend reversal zone

29 Jul 2020

ONT / USDT Main downtrend. Downlink. Local uptrend. Keep the ascending channel.
The professional work of a market maker is visible. Reminds LTC / USD or ATOM / BTC.
The price has now approached an important trend reversal zone.

If there is a breakout and consolidation above the downtrend line of the main trend, then the main trend will reverse.
Target levels are shown on the chart.

If the price fails to overcome the resistance of the descending channel, trade in the channel from the trend lines. It is also worth noting that from the bottom the price has already made a significant profit of about + 180% in a local uptrend without correction.

It is worth noting that an important support level is a zone in the region of $ 0.5 from it, a local reversal occurred three times within the descending channel. I admit that it is quite possible that the price may fall to this level if the first time the price does not overcome the resistance line of the main trend. And from this support level zone, with renewed vigor the breakout and reversal of the main trend.
Use Stop-Loos, but consider the volatility of the trading instrument.

29 Jul 2020

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The same coin is paired with ONT/BTC

23 Nov 2020

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the price could not overcome the channel resistance, the price reversed from the observation area and the local trend changed to a downtrend. The rise in the price of bitcoin has intensified this process. At the moment, in the zone of the channel bottom, which can act as a reversal zone. A double bottom was drawn locally. Note that there was no volume at all when the price went down, and it is the same now. It is worth noting that the buyer is similarly not interested.

23 Nov 2020

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13 Mac 2021

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