The Ontology (ONT) price fell to an all-time low on Nov. 14. While it has bounced slightly since, it is facing crucial resistance at $0.20.
The ONT price has fallen since reaching a high of $2.96 in May 2021. The downward movement led to a new all-time low of $0.15 in Nov. 2022.
The decrease also caused a breakdown below the $0.35 area, which previously acted as the all-time low support. The area has now turned to resistance (red icon).
Technical analysis indicators do not give any bullish signs. This is visible in the weekly RSI, which is decreasing, is below 50 and has not generated any bullish divergence. As a result, the Ontology price prediction is considered bearish.
If the downward movement continues, there could be support at $0.015. This is created by using the 1.61 external Fib retracement on the most recent bounce.
Since the ONT price is trading at an all-time low, the use of Fib levels is required to find…
