🚀 $ONT is showing a potential technical setup!
The weekly chart on ONT/USDT indicates a large double bottom formation building off major multi-month lows around the 0.0350-0.0400 support zone.
📈 The Technical Setup:
• The Pattern: Double Bottom / Accumulation Base
• Short-term Target: 0.1000 USDT
• Macro Objective: 0.2000 USDT
• Market Structure: Reversal / Accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.0350 - 0.0400 USDT
• Resistance: 0.1000 USDT
• Breakout Level: 0.0600 USDT
• Stop Loss / Invalidation: 0.0330 USDT
📊 Confirmation:
• Volume: Neutral/standard volume building around support
• Momentum: Bullish reaction forming from the recent double bottom low
• Trend: Long-term downtrend testing potential reversal floor
⚠️ Invalidation:
A weekly candle close below the 0.0330 USDT support level would invalidate this setup.
Patience is required while the price attempts to form a solid bottom base before any impulsive move toward higher targets.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#ont #crypto #BinanceSquare #tradingview #TechnicalAnalysis
The weekly chart on ONT/USDT indicates a large double bottom formation building off major multi-month lows around the 0.0350-0.0400 support zone.
📈 The Technical Setup:
• The Pattern: Double Bottom / Accumulation Base
• Short-term Target: 0.1000 USDT
• Macro Objective: 0.2000 USDT
• Market Structure: Reversal / Accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.0350 - 0.0400 USDT
• Resistance: 0.1000 USDT
• Breakout Level: 0.0600 USDT
• Stop Loss / Invalidation: 0.0330 USDT
📊 Confirmation:
• Volume: Neutral/standard volume building around support
• Momentum: Bullish reaction forming from the recent double bottom low
• Trend: Long-term downtrend testing potential reversal floor
⚠️ Invalidation:
A weekly candle close below the 0.0330 USDT support level would invalidate this setup.
Patience is required while the price attempts to form a solid bottom base before any impulsive move toward higher targets.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#ont #crypto #BinanceSquare #tradingview #TechnicalAnalysis
