ONTUSDT buy opportunity? 👀
Updated
Hello Traders, Hope everything is going well .
Today I want to share my thoughts on ONT. About 50 days ago, ONT broke out of the descending line ( yellow line ) and made a pullback to it and that was
a perfect buy opportunity ( 121% growth ). What now?
As you can see, ONT was moving in a triangle and has managed to break out of it so by the rules of triangles, the first target is around 2.22$ and 2nd is 2.88$.
But there is a static resistance in the way of ONT ( purple range ).
So in my opinion, if you are a risky person, you can buy it here with a stop loss of 1.4$ but if you want to buy it safe, then you can buy it when
it breaks the resistance and consolidates above the purple range or in the pullbacks to the purple range.
Long term target could be the ATH 8.5$? 👀
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on ONT. ✌
Today I want to share my thoughts on ONT. About 50 days ago, ONT broke out of the descending line ( yellow line ) and made a pullback to it and that was
a perfect buy opportunity ( 121% growth ). What now?
As you can see, ONT was moving in a triangle and has managed to break out of it so by the rules of triangles, the first target is around 2.22$ and 2nd is 2.88$.
But there is a static resistance in the way of ONT ( purple range ).
So in my opinion, if you are a risky person, you can buy it here with a stop loss of 1.4$ but if you want to buy it safe, then you can buy it when
it breaks the resistance and consolidates above the purple range or in the pullbacks to the purple range.
Long term target could be the ATH 8.5$? 👀
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on ONT. ✌
Note
A nice pullback to the triangle.Note
So ONT broke the resistance ( purple range ). If you haven`t bought it yet wait for the pullbacks.
Trade active
1st target reached. It didn`t touch exactly 2.22 but 2.17 is close enough.Trade closed: target reached
52% profitTrade closed: target reached
TP2 reached.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.