$ONT is currently testing a major demand zone after hitting its yearly cycle low. With the recent MainNet upgrade and the "Ontello" Beta launch, the fundamentals are shifting, but the price action remains cautious.

Technical Setup:

Support Zone: $0.0520 - $0.0530 (Strong accumulation area)

Resistance: $0.0568 (Immediate hurdle) & $0.0620 (Major target)

RSI: Sitting in the neutral zone, showing signs of a potential bullish divergence on higher timeframes.

Trading Idea:

Entry: $0.0535 - $0.0540

Target 1: $0.0580 (Short-term scalp)

Target 2: $0.0650 (Mid-term recovery)

Stop Loss: Below $0.0510

Summary: Ontology's supply-side changes ONG burn are bullish, but liquidity remains tight. Watch for a volume spike to confirm a breakout above $0.0570 before going heavy.

Stay safe and manage your risk! 🛡️

ONT
ONTUSDT
0.0509
+0.59%

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