Ontology (ONT) Price Analysis: Ontology (ONT) Price Drops Days After the Launch of the Mainnet

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Ontology (ONT) price has fallen by 7.61% within the last 24 hours just a few days after the launch of the Mainnet. Currently, the cryptocurrency is trading hands at $4.67 which also indicates a 2.84% dip in price within a seven day period.

Ontology (ONT) Price Today / USD

Name Price24H (%)
Bitcoin (BTC)
$7,023.36
5.45%
Ontology (ONT)
$3.70
-1.17%

Released on the 18th of March, Ontology is owned by the same company that produced NEO, OnChain. It is a distributed trust platform that allows individuals to access one another through trust, and platform identification.

Ontology (ONT) Price Analysis

The cryptocurrency is the 23rd largest in the market as per market capitalization and it has a market capitalization of $706 million. This is over $600 million lower than the June 7 market capitalization. Since the cryptocurrency is still new in the market, a long term price analysis is difficult to determine. However, a short-term analysis can be determined based on the past and present price action.

The market started a bullish run in April 1st moving from as low as $1.74 to $12.30 by May 3rd which indicated in increase by more than 130% within 34 days. After reaching peak, the bears took over the market and the price started falling till it fell as low as $5.76. In June, the price went as low as $4.41.

Over the past few days, Ontology (ONT) price has fallen significantly. If the market continues on the bearish wave, the price may go as low as $2.93. If, on the other hand, the bearish pressure is reversed and the bulls take other the market, Ontology may move to the $5.75 and even higher to the $8.25. If the market continues to move forward, it may get to the $15.28 level.

Ontology has shown a lot of promise for a new cryptocurrency. Even with the difficulty in the market, the cryptocurrency has prospect to grow higher. If you’re thinking of diversifying your portfolio, Ontology might be a good way to go.


SEE ALSO:   The Bulls in the Market Have Set XRP (XRP) Up For More Gains

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