đš $ONG is back on the radar.
Ontology Gas has exploded from around $0.04 to above $0.16, then went through a brutal correction. Now ONG is back near $0.096 â and the move is still extremely volatile.
The main catalyst was the Ontology MainNet v3.1.2 upgrade, completed around August 21. It added Ethereum-compatible opcodes to the Ontology EVM, making it easier for Ethereum developers to build on the network.
There is also a real tokenomics change behind ONG: 200M ONG were burned, permanently capping supply at 800M, with additional liquidity-lock mechanisms.
đ Technically: after the parabolic move, ONG is now trying to build a new base around $0.08â0.09. Above $0.10, momentum could return toward $0.12â0.15. Losing $0.08 would make another move toward $0.07 much more likely.
đą ONG â LONG on pullback
đ° Entry: $0.088â0.096
đŻ TP1: $0.105
đŻ TP2: $0.12
đŻ TP3: $0.145â0.15
đ SL: $0.078
đ Leverage: 3â5x
One thing to watch: Upbit is scheduled to suspend ONG deposits/withdrawals on August 26 for a wallet upgrade. Trading remains active, so this is not a fundamental bearish signal, but it can temporarily affect liquidity.
My view: ONG has a legitimate catalyst behind it, but after a ~100%+ rally, chasing candles is dangerous. Iâd rather see it hold $0.09 and then attack $0.10 with volume.
Can ONG turn this crazy pump into a real trend â or was the hard fork already priced in? đ
#Ong #Ontology #crypto #trading #Binance
Ontology Gas has exploded from around $0.04 to above $0.16, then went through a brutal correction. Now ONG is back near $0.096 â and the move is still extremely volatile.
The main catalyst was the Ontology MainNet v3.1.2 upgrade, completed around August 21. It added Ethereum-compatible opcodes to the Ontology EVM, making it easier for Ethereum developers to build on the network.
There is also a real tokenomics change behind ONG: 200M ONG were burned, permanently capping supply at 800M, with additional liquidity-lock mechanisms.
đ Technically: after the parabolic move, ONG is now trying to build a new base around $0.08â0.09. Above $0.10, momentum could return toward $0.12â0.15. Losing $0.08 would make another move toward $0.07 much more likely.
đą ONG â LONG on pullback
đ° Entry: $0.088â0.096
đŻ TP1: $0.105
đŻ TP2: $0.12
đŻ TP3: $0.145â0.15
đ SL: $0.078
đ Leverage: 3â5x
One thing to watch: Upbit is scheduled to suspend ONG deposits/withdrawals on August 26 for a wallet upgrade. Trading remains active, so this is not a fundamental bearish signal, but it can temporarily affect liquidity.
My view: ONG has a legitimate catalyst behind it, but after a ~100%+ rally, chasing candles is dangerous. Iâd rather see it hold $0.09 and then attack $0.10 with volume.
Can ONG turn this crazy pump into a real trend â or was the hard fork already priced in? đ
#Ong #Ontology #crypto #trading #Binance
