What a run we've had the last couple of weeks. ONT is looking massively overbought right now. Don't be tempted to buy in just yet, as there's a strong possibility that we'll see some consolidation or even a short-term pull-back as traders take profits. Ideally, I'd wish to see a continuation flag. Keep an eye on this one.
With the last major dip, I predicted BTC at <5000. I continue based on observation to be bearish. RSI and MACD are negative. As the chart takes us into oversold territory, it looks like we're going to test the recent lows. I expect that these declines will take the market with it and at this time, am waiting to buy anything.
The price is sitting at the bottom of the Ichimoku cloud. If this support does not hold, look to test the 807. That does not seem like strong support to me and if that level is tested -- and in the high likelihood that it fails -- I will look for Ethereum to test the bottom of the downward channel overall. I don't recommend buying here.