Ontology (ONT) surpassed Zcash to move to the 10th spot in the market cap. Its price could continue higher and there are even chances of ONT surpassing the market cap of NEM (XEM).Ontology (ONT) Price Analysis
In the past two days, there were decent gains in bitcoin, Ethereum, ripple, litecoin and EOS against the US Dollar. Similarly, a few small cap altcoins gained traction, including ONT. After declining as low as $0.7882, there was a solid upward move. The price moved above the $0.8500 resistance level to started a decent recovery. Buyers pushed the price above the 23.6% Fib retracement level of the last decline from the $1.2230 high to $0.7882 low. There was even a close above the $0.9000 resistance and the 55 simple moving average (4-hours).
Moreover, there was a break above a key bearish trend line with resistance at $0.8900 on the 4-hours chart of the ONT/USD pair. The pair extended gains above $0.9500 and spiked above the $1.0000 resistance area. However, further gains were contained by the $1.0055 level. The 50% Fib retracement level of the last decline from the $1.2230 high to $0.7882 low also acted as a resistance. The price is currently correcting lower, but there are many supports near the $0.9200 and $0.9000 levels.
The main support is near the $0.9000 level and the 55 simple moving average (4-hours). Below $0.9000, the price could find bids near the $0.8500 level. There is also a connecting bullish trendline in place with support at $0.8300 on the same chart. On the upside, a close above the $1.0000 level co...