Will ONT continue the uptrend or enter the correction trend?
ONT After breaking its down-trend by wave (3), it pullback to the same broken trend in the form of wave (4) and is now forming its next wave.
The price of 1.6 to 1.8 is a strong resistance for this currency. If it can cross this range with high power and volume and pullback on it, we can consider the started wave as a sub-wave of 3 from wave (3).
By examining the indicators in the daily time frame, the divergence between the last two ceilings is quite visible, and if the volume decreases and the price fails to cross this resistance, we should consider the emerging wave as wave 5 and wait for the correction.
The price of 1.6 to 1.8 is a strong resistance for this currency. If it can cross this range with high power and volume and pullback on it, we can consider the started wave as a sub-wave of 3 from wave (3).
By examining the indicators in the daily time frame, the divergence between the last two ceilings is quite visible, and if the volume decreases and the price fails to cross this resistance, we should consider the emerging wave as wave 5 and wait for the correction.
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.