👀Huobi x CoinMarketCal👀A Coin To Keep An Eye On!
Ontology is a high-performance public blockchain and distributed collaboration platform. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. With a suite of decentralized identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID use throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework. https://www.ont.io/
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📅Event: The on-chain gas price in the Ontology network environment will be adjusted from 500 to 2,500 from July 7, 2020 (UTC).
📈Analysis
ONT set the bottom of the current range during early March. In May, the price ran the lows of the range before briefly popping up to clear the highs below the 2020 yearly open level at 0.0000721.
The break above the highs failed to hold, but the price does seem to be finding support around the monthly level and range mid near 0.0000629.
This week, aggressive bulls could look to enter on a successful test of the recently broken swing high at 0.0000652 or wait for another move toward the range mid. With several bullish events scheduled for this week, some movement is to be expected.
On the other hand, bears might see this as a three-for-one opportunity to sell the news and drive the price down as they set up to run the range’s lows. If the price closes and holds below the range mid, this scenario becomes more likely.
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