Ontology Price Prediction 2021 – Will ONT Hit $11 Soon?

Ontology Price Prediction 2021 - Will ONT Hit $11 Soon?
  • Bullish ONT price prediction ranges from $1.00to $10.10.
  • The ONT price might also reach $11.
  • ONT bearish market price prediction for 2021 is $0.40.

In ONT price prediction 2021, we use statistics, price patterns, ADX, and much other information about ONT to analyze the future movement of the cryptocurrency. 

Ontology (ONT) is a high-performance, open-source blockchain specializing in digital identity and data. Ontology features include ONT ID, a mobile digital ID application and DID use throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework. Ontology is a blockchain framework it helps public blockchain systems.

Current Market Status of Ontology (ONT)

According to CoinGecko, the price of Ontology is $0.688 with a 24-hour trading volume of $115,080,704 at the time of writing. However, ONT dropped to 3.28% in the last 24 hours.

Moreover, ONT has a circulating supply of 876,616,316.00 ONT. Currently, ONT trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, FTX, and ZG.com.

Ontology (ONT) Price Prediction 2021

Ontology (ONT) holds the 99th position on CoinGecko right now. ONT price prediction 2021 is explained below with a weekly time frame. 

ONT/USDT Ascending Broadening Pattern (Source: TradingView)

An ascending broadening pattern is a bearish pattern. It is designed by two diverging bullish lines. An ascending broadening pattern is formed if it has a good oscillation between the two upward lines. The upper line is the resistance line and the lower line is the support line.

In the Weekly time frame chart, if the price of the ONT breaks the resistance level of $1.05, it will reach the target of $3.15. Else, if the price of the ONT breakout the support level of $0.35 means it will fall to the next support level at $0.19. So, the trend of the ONT is based on the breakout.

Ontology (ONT) Support and Resistance Level

The below chart shows the support and resistance level of Ontology (ONT). 

ONT/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support levels of ONT.

  • Resistance Level 1 – $1.00
  • Resistance Level 2 – $1.76
  • Resistance Level 3 – $3.15
  • Resistance Level 4 – $5.66
  • Resistance Level 5 – $10.10
  • Support Level 1 – $0.40

The chart depicts the bearish performance of ONT over the previous month. However, ONT will continue with a bearish signal for the short term. On the contrary, if the trend reversed then ONT might fall to $0.40 presenting a bullish signal.

Ontology (ONT) Average Directional Index (ADX)

Let us now look at ONT’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it frequently combined with directional indicators.

ONT/USDT ADX (Source: TradingView)

The above chart represents the ADX of ONT lies in the range at 24.16, so it indicates a weak trend.

Conclusion

The ONT is one of the cryptos that keeps its ground against the bearish market. Hence more, our long-term ONT price prediction for 2021 is bullish. It has a huge possibility f overtaking its current all-time-high (ATH) of $10.92 this year. More so, this will only happen if it breaks many past psychological resistances.

Henceforth, with the ongoing developments and upgrades within the ONT ecosystem, it could experience a great future ahead in 2021. It may reach $10.10 soon and it might even reach high heights, however reaching $11, if investors have planned that ONT is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.