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Ontology Price Eyes $4 Target as Pumping Action Continues

It seems particular patterns are destined to repeat themselves in the world of cryptocurrency. Every working project with decent technology is losing value, whereas currencies which are just in the early stages of development are soaring. It has become evident the Ontology price is subject to a lot of manipulation, but so far, the uptrend remains in place.

Ontology Price is on the Rise

While it remains to be seen how things will play out in the world of cryptocurrency, the overall trend remains extremely bearish, for the time being. This is not entirely surprising, as there is no reason for any positive momentum as of right now. Then again, the Ontology price is quite successful in bucking this trend albeit it remains unclear why that is the case exactly. The project has everything to prove at this stage, after all.

To put this into its proper perspective, the Ontology price currently sits at $3.91. That is quite a high value, especially when keeping in mind how relatively new this altcoin is. It is not uncommon for new currencies to suddenly spike in value, although most people expected the Ontology price to drop from $2 to less than half.

So far, that has not happened, as the Ontology price is seemingly continuing its upward momentum with relative ease. Over the past week, we saw the Ontology price rise from $1.75 to almost $4. If this pace keeps up, it will hit $5 pretty quickly. Whether or not such growth is even remotely sustainable, remains to be determined. Additionally, the Ontology market cap has risen to $942.3m, which is rather high for this particular venture.

With $92.4m in 24-hour trading volume, it is clear very little money can make the Ontology price move pretty quickly. More specifically, it takes less volume to make things happen for this altcoin right now, even though it remains to be seen how much of those trades are not driven by hype and speculation. If the general altcoin industry is any indication, it seems this is a very deliberate pump-and-dump schemes.

One thing Ontology has going for it is how the currency is listed on Binance. The world’s largest altcoin exchange is the go-to place for pump random coins, even though this Ontology price trend has been in place for quite some time now. Binance represents over 66% of all ONT trades right now, which is not necessarily a positive sign by any means. Huobi is also in the top three, although its volume is far less impressive.

For the time being, we will have to wait and see how things play out for the Ontology price. It has become evident there is a lot of price action going on, although it may only be temporarily, for all we know. The same pattern has repeated itself several times over, albeit it remains to be seen if this trend will continue for quite some time to come. Owners of Ontology will be quite happy with the way things are going as of right now, that much is rather evident.

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NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 24, 2018

In the last 24 hours, gains have been modest to say the least and still IOTA is the top performer after adding three percent. This way, its market cap stands at $5.86 billion. In my view, IOTA is a coin to watch. On the other side of the spectrum, Stellar Lumens led the erosion as it is down three percent with EOS following close behind. Let’s have a look at these charts: XLM/USD (Stellar Lumens) Stellar Lumens 4HR Chart by Trading View Other than Ripple, Stellar Lumens is amongst the biggest loser sliding three percent and printing 36 cents in last 24 hours. I remain stead fast and my approach is simple. Even though it’s obvious that buyers-across the board by the way-are in charge, bull pressure is waning. It is because of this that I expect sellers to drive prices towards key support lines at 30 cents or until a stochastic buy signal prints in the 4 HR chart. Before then, any surge below 35 cents is inviting for sellers who should instead aim for 30 cents or there about. IOT/USD (IOTA) IOTA 4HR Chart by Trading View By now, you should have your first IOTA newsletter assuming you subscribed to IOTA’s news website. Other than that, prices are generally stable following that Hannover Messe “pitch” where Fujitsu and a couple of other IoT supporters were presenting. So far we have 5 of the world’s biggest brands as Deutsche Telkom, Bosch, DXC, and possibly Nestle in the IOTA camp. There are more to follow and that is why in the long-term, IOTA is a bullish. Let’s also not forget about CarrIOTA amazing 1.2Txs/H through put that would help suppose adoption spikes. #CarrIOTA #Hercules +1.2M TXs/h. pic.twitter.com/Y9adSOFrfv — Roman Semko [DevIOTA] (@RomanSemko) April 23, 2018 Apparently, every IOTA lower low is another loading zone and so far, prices are above $2 which is quite impressive. In my view and considering the waning buy pressure, a pull back below the middle BB in the 4HR chart towards $1.80 would be perfect for buyers. In that case, I recommend not fading the current trend but rather remaining neutral until a stochastic buy signal prints or there are strong bullish candlestick forming at our key support lines. EOS/USD (EOS) EOS 4HR Chart by Trading View Regardless of bumps, the ride up has been awesome. For all we know, we can attribute the spike in cryptocurrency market cap-it’s now at $396 billion to the current appreciation of EOS and of course Bitcoin which is still king. Anyhow, recent development is that BitFinex is presenting itself as a potential EOS BP. As such, there will be EOSFinex, a DEX platform guaranteeing peed, high performance and scalability in mind. It will also be the first DEX to launch on the EOSIO blockchain. Şubat ayında açıklanan $eosfinex Dex (merkeziyetsiz borsa) duyurusundan sonra, zaten olması gereken ve beklenende buydu. $eos pic.twitter.com/whqloR9SAm — Krezus (@KralKrezus) April 23, 2018 If you also missed EOSDAC air drop, MEET is on the way and you should register before June 1, 2018. Price wise, it’s not rocket science to see that distribution and selling pressure at $12. As visible from the chart, prices have been in consolidation mode in the last 24 hours with EOS shedding two percent in the process. This is what I was expecting. So, until strong buy momentum build up, I shall be net bearish and expect potential reversals to happen ideally between $8 and $9.5. However, if prices surge past $12, we can cancel this short term correction. LTC/USD (Litecoin) Litecoin 4HR Chart by Trading View As much as Litecoin is outside the top 5 spot, I believe it shall recover and claim its initial position assuming EOSIO launch is a disappointment. After all, rumors are rife that EOS will after all launch its software and not a platform as many are expecting. Now will EOS have to counter claims that it’s a useless token? Well, we shall wait and see as price action is the mirror that prints all. At the moment, Litecoin needs to build up its consumer adoption because as we have seen merchant adoption is not a problem. From the charts and April 21 highs is still a perch that buyers are angling for. In my view, I will still maintain my short-term correction and retest of $140 especially if prices fail to move higher today. All we need is a strong bearish candlestick pushing prices below the middle BB in our entry chart and Litecoin is likely to drop $140. It’s from there when buyers can find a spring board and race towards $180, our ideal bull target. NEO/USD (NEO) NEO 4HR Chart by Trading View The NEO blockchain explorer and light wallet from NewEcono Labs is now live. However, this seems to be of little help to prices as they continue to find liquidation at around $80. Our NEO blockchain explorer https://t.co/OnivsImqwq and light wallet https://t.co/y1ckMAKWLe go live. And our light wallet will integrate our NNS service on the testnet soon. pic.twitter.com/ebLF1xNevb — NewEconoLabs (@NewEconoLab) April 23, 2018 Remember, from our previous NEO technical analysis, our main resistance line is at $80 and until enough buy momentum builds up, prices should correct towards $60. This will be so especially if bears push prices below $70 and April 21 lows in the coming session. Because of this decreasing buy momentum, I’m neutral until a stochastic buy signal prints or there are reaction at our key support levels between $60 and $65. The post NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 24, 2018 appeared first on NewsBTC.

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