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Ontology Gas (ONG) Buy Signal

Ontology describes itself as a provider of high-performance public blockchains, which includes distributed ledger and smart contract systems.

The Ontology blockchain framework reportedly supports public blockchain systems that can be customized for different applications. Ontology supports collaboration among chain networks with its various protocol groups.

Ontology aims to constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework and distributed data exchange protocol. Ontology intends to continue developing new common modules based on specific scenario requirements.

Ontology uses a dual token (ONT and ONG) model. ONT is a coin and can be used for staking in consensus, whereas ONG is a utility token used for on-chain services. ONT releases ONG periodically.

Ontology Gas (ONGBTC) is now sitting at a new all-time low on the BTC pair (ONGBTC). Let’s take a look at the chart:

  • On top of the new low that just hit, we also have the following signals:
  • Bullish divergence on the MACD (marked with a purple arrow).
  • Bullish divergence on the RSI.
  • RSI coming out of oversold.
  • Increasing green/bull volume (you can notice the biggest volume bar since May). 

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