Ontology (ONT) is an altcoin whose prices have risen sharply in recent days. On Thursday evening, the ONT in Indodax traded in the range of Rp19,750, up 27.7 percent in the last 24 hours. Is it still worth buying?
In the first quarter of 2019, Ontology managers formed partnerships with a number of companies such as ParityGames, GoWithMi and MovieBloc. In collaboration with ParityGames, Ontology developed a game platform using Open-source Ostolog technology. This partnership requires the launch of the first blockchain VR-based game from ParityGames called The Isolated City on Ontology.
This partnership with ParityGames will also include integrating blockchain into game items and Skrskins, a platform that has more than 500,000 users.
As with GoWithMi, which is working on location-based infrastructure services and land rights digitalization, Ontology provides investment and technical support that focuses on digitalisation of rights to land using Ontology.
GoWithMi has established strategic partnerships with top companies in Southeast Asia such as Grab, Gojek, Akulaku, Shopee, Zoomy, and Toyota and Honda. GoWithMi technology is used at the 2018 Asian Games in Indonesia, with the Asian Games Smart Map application that provides realtime navigation services.
These various partnerships have raised the value of ONT tokens on the market. However, with the current upward trend, is the ONT currently worth buying?
CryptoWatch crypto analyst Christopher Tahir said the ONT had experienced a long and declining consolidation period since reaching its highest price in 2018. The price decline slowed since the middle of December 2018 ago. Then the ONT moved stagnant in its sideways price range in the range of 0.00015-0,00019 BTC.
In the second week of February, the price rose again to the upper limit of the price range, then experienced sideways forming a Cup & Handle pattern, before finally the price managed to break its sideways price range and experienced a significant increase.
Chris said, in March, ONT managed to rise to reach 0,00028 BTC, but accompanied by selling pressure. This of course makes the ONT itself moves in the sideways range for a few moments, before the range forms a Flag pattern, which is where the pattern breaks on March 17.
"It is estimated that the current price increase is already reaching the increase target, so that at this time the ONT will return to rest before continuing its increase again," he said, Thursday (3/21).
With the price increase that has occurred at this time, to traders Chris suggested to realize the profits obtained. Especially for holders, he suggested avoiding altcoins, because of volatile price movements.
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