|

Ontology Price Prediction: ONT to slide 20% lower as big brother NEO is unable to eke out a weekly gain

  • Terra LUNA Classic price tanks and closes the week at a loss.
  • LUNC sees hopes for a longer-term evaporate just at the time USDC was able to repeg itself.
  • With the breakdown in correlations, stablecoins could be getting hurt again with a 35% drop.

Ontology (ONT) price is set to tank further this week and next week. Overheading altcoin NEO, which is often compared as the CHinese Ehtereum, was unable to book gains on the back of the big Gaming Developers Conference (GDC) that took place throughout this week. ONT will tank lower as the push higher from last week needs to be reversed as no positive tailwind materliasied out of GDC.

Ontology price set to tank as GDC fails to deliver for altcoins

Ontology price is at risk of tanking near 20%, although several supportive elements are present to provide ample support. Where ONT will end will depend on how disappointed investors and traders will be that nog much massive news came out of the GDC, which was eyed for a few breaking headlines that would put altcoins on the map in terms of gaming tokens and coins. The dust needs to settle over the weekend to determine the move in the coming weeks, 

ONT will see bulls using all available tools to avoid a falling knife with the 55-day Simple Moving Average (SMA) at $0.30, the 200-day SMA at $0.20 and the green ascending trend line near $0.19 to trigger a bounce higher. Expect a very slow grind higher, with bulls breaking higher near the end of May towards $0.40 on the topside.

ONT/USD  weekly chart    

ONT/USD  weekly chart    

With bulls unable to hit that upper handle at $0.2685, the decline could see less support as expected towards $0.20. Once that breaks, ONT falls into an area with little support between the top and bottom. The floor, which is also the lof of this year, is near $0.14.

Author

Filip Lagaart

Filip Lagaart is a former sales/trader with over 15 years of financial markets expertise under its belt.

More from Filip Lagaart
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Lighter’s LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.