This article will analyze the ONT coin according to www.coinmarketcap.com data. First, we will discuss the ONT coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is ONT Coin?
ONT coin is the native cryptocurrency of Ontology, a high-performance public blockchain and distributed trust collaboration platform. Ontology aims to provide an infrastructure for building decentralized applications (dApps) and services that can be used in various industries, including finance, healthcare, and supply chain management.
What are the projects of ONT?
One of the main projects of Ontology is the development of a trusted ecosystem, which includes identity verification, data exchange, and digital asset management. The platform also supports the creation of custom tokens and smart contracts.
Factors Influencing ONT Price
There are several factors that can influence the price of ONT coins, including:
Market demand: Like any other cryptocurrency, the price of ONT is primarily determined by supply and demand in the market. If there is more demand for ONT than supply, the price will increase, and vice versa.
Adoption and partnerships: The adoption of Ontology’s platform by businesses and organizations, as well as partnerships with other companies, can positively impact the price of ONT. This is because it increases the perceived value of the platform and the usefulness of the ONT token.
Regulatory changes: Regulatory changes in the cryptocurrency industry, particularly in the country where Ontology is based (China), can affect the price of ONT.
Technology advancements: Improvements and advancements to Ontology’s platform, such as faster transaction speeds or increased functionality, can increase the perceived value of ONT and positively impact its price.
Overall market sentiment: The overall sentiment of the cryptocurrency market can also impact the price of ONT. If the market is experiencing a bull run, the cost of ONT may increase, and if the market is in a bearish trend, the price may decrease.
Please note that the cryptocurrency market is highly volatile, and the factors influencing the price of any cryptocurrency can change over time. It’s always recommended to conduct thorough research and consult with financial professionals before making any investment decisions.
ONT COİN TECHNICAL ANALYSIS
After seeing its historical high of $8.642 in June 2018, ONT has dropped 98% by the end of 2022, down to $0.1458. Although it goes up to $ 0,3500 with the purchases in the market in 2023, it is currently trading at $ 0.2303. According to www.coinmarketcap.com data, ONT, which has a size of $201,584,557, has had a volume of $11,360,642 in the last twenty-four hours.
ONT Chart Analysis
Another coin that disappointed ONT investors fell from $ $8.642 to $ $0.1458, with a loss of 98%. ONT, which rose to $ 0,3500 with the purchases in the market at the beginning of 2023, could not stay at this level and fell again. When we examine the weekly chart, this week, the $0.2110 level is our horizontal support zone for the ONT coin, while $0.3036 can be followed as the weekly resistance zone.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
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