Another day dawns upon the cryptocurrency industry and it appears a minor amount of bearish pressure is making its presence felt. While not all markets are suffering from this momentum, it would appear the Ontology price is starting to struggle for any real momentum. Overcoming this minor setback will not pose too much of a challenge, but one never knows what the future holds.

Ontology Price Takes a Breather

It is not necessarily worrisome to see over half of the top 20 crypto markets in the red right now. As none of the losses are too steep, it would appear interesting momentum might be brewing ahead of the weekend. Ontology, while also suffering from a minor setback, is seemingly on the road to recovery once again. Its value seems to hold its own above $1.3 without any real resistance, which is pretty interesting to keep an eye on.

Over the past 24 hours, the net tally for Ontology shows a 2.79% decline in USD value to $1.32 and a 2.33% loss over Bitcoin. None of these setbacks is disconcerting, although it may have spooked some traders and enthusiasts. The overall trading volume of $72.84m is still going strong, however, which may indicate this downtrend is only temporary. It will primarily depend on where Bitcoin’s value is headed next, as that will dictate the pace for all other markets as well.

The big news of the day is how Ontology has been added to the Voyager investment platform. Users can buy and trade ONT with US Dollars through the iOS app without paying any commission. It can help improve the altcoin’s overall liquidity, albeit the actual impact of this offering remains a bit unclear. It seems this functionality was available since February, yet the company only now paid “official” attention to it on Twitter, for some reason.

A lot of people pay significant attention to price alerts, either through websites or Twitter accounts. Invalert has confirmed they are now tracking Ontology, alongside BAT, BNB, and IOST as well. This is pretty interesting for traders and speculators alike, although coin alerts are never a guarantee for making money in the volatile cryptocurrency industry.

For those who want some ONT chart action, it would appear the coming hours can be very crucial. Crypto-GAINZ expects a new uptrend to materialize in the next hour or three, assuming the $1.3 level holds as support for a while longer. For now, it appears that will be the case, but there is also a genuine chance some further bearish pressure could materialize. With the weekend just around the corner, any and all options need to be kept on the table at all times.

While Ontology might not be indicative for other cryptocurrency markets, it would appear this particular altcoin should bounce back fairly soon. If other altcoins recoup their losses as well, the uptrend should be resumed once the weekend comes around. There are never guarantees in this industry, but it would appear the ONT value should go in the green again fairly quickly.



Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.


LEAVE A REPLY

Please enter your comment!
Please enter your name here