Analysis on $ONT for CryptoEduLK Community

Ontology (ONT) is a smart contract platform. Still in the very early stage of development.
Ranked #30 with a current market capitalisation of USD 270 mn.

Technical Analysis
High correlation with BTC movement. HTF are showing a descending triangle movement which is in continuation over a year now.Currently at ALT levels. Daily graph is showing a very strong accumulation.

ATL support - 555 sats, A dumping BTC can break this easily
Local Resistance - 618, best entry will be retest of this level as a S/R flip.
Moving under 200 MA & 21 EMA


Fundamental Analysis
Mainnet was released recently, started building NFT platform, wallet upgrades. Seeing a strong traction on new partnerships.

Token economy and Staking
Supply of 1,000 mn ONT and ONG, Near 63% current circulation of ONT. Recently did a buy back from the open market. There are no burning events, fixed supply.

Staking will generate ONG utility token, which is tradable and used for gas fee.

Always DYOR