ONT/USDT In the Key area. Break and Upward Momentum is coming !!

BINANCE:ONTUSDT   Ontology / TetherUS
πŸ’Ž ONT has indeed captured the market's attention with its strategic breakout from the descending channel pattern. This move, followed by a successful retesting phase, has propelled ONT into a significant upward trajectory. Currently, ONT finds itself at a pivotal juncture, confronting a substantial resistance area. For the bullish momentum to be authenticated and sustained, ONT must breach this resistance barrier.

πŸ’Ž Failure to do so could trigger rejection, potentially driving ONT back down for a critical reassessment within the demand zone, specifically between $0.1895 and $0.1777. This retracement would serve as a platform for regathering strength, aiming for a rebound.

πŸ’Ž Conversely, should ONT Break the resistance, the Probability could clear for a relatively unobstructed advance towards our targeted zones, including the supply and major supply areas.

πŸ’Ž However, a less favorable scenario could unfold if ONT, while retesting, fails to uphold the integrity of the demand zone. Such an inability to sustain its position could spell a bearish reversal for ONT, potentially initiating a downward journey to reevaluate positions at more robust support levels. This shift would mark a significant transition from bullish enthusiasm to bearish caution in ONT's market narrative.

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