$ONG
just broke out of a multi week descending wedge with a single explosive candle, ripping from around $0.054 to $0.138, a move north of 150% off the recent base.
Price is now testing the long term descending trendline near $0.166, the same resistance line that has capped every rally attempt since the top of this chart. That level is the real test, not the breakout candle itself.
$0.103 to $0.108 is the zone to watch on any pullback, that is the top of the prior range now flipped to support if this move is genuine rather than a blow off spike.
Is this a real trend reversal or a leveraged short squeeze that fades once funding resets?
$ONG #Ontology #Altcoins
This is just my personal opinion, not financial advice.
just broke out of a multi week descending wedge with a single explosive candle, ripping from around $0.054 to $0.138, a move north of 150% off the recent base.
Price is now testing the long term descending trendline near $0.166, the same resistance line that has capped every rally attempt since the top of this chart. That level is the real test, not the breakout candle itself.
$0.103 to $0.108 is the zone to watch on any pullback, that is the top of the prior range now flipped to support if this move is genuine rather than a blow off spike.
Is this a real trend reversal or a leveraged short squeeze that fades once funding resets?
$ONG #Ontology #Altcoins
This is just my personal opinion, not financial advice.
