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VeChain, Chiliz, Ontology Price Analysis: 29 March

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Source: Pixabay

VeChain formed a range after the bullish performance in recent weeks. Chiliz saw massive swings in recent days but long-term traders would look for a climb past $0.6 to signal another leg upward. Ontology formed a bullish pattern and was likely to move to $1.66 once more.

VeChain [VET]

VeChain, Chiliz, Ontology Price Analysis: 29 March

Source: VET/USDT on TradingView

After a strong performance in March, VET was consolidating in a range, whose boundaries lay at $0.08 and $0.093. Marked in orange are the deviations outside the range.

The RSI was above neutral 50, but showed waning bullish momentum in recent days, as the price approached the mid-point of the range. Closing a trading session below the $0.087 mark, that is, the mid-point of the range and retesting it as resistance can be used to enter a scalp short trade targeting the $0.08-$0.076 as take-profit. At that point, a long position can be entered if the range holds.

Chiliz [CHZ]

VeChain, Chiliz, Ontology Price Analysis: 29 March

Source: CHZ/USDT on TradingView

Chiliz had a remarkable performance in March, surging from $0.032 to $0.94, amounting to 2820%. The 23.6% retracement for this move lies at $0.42, and there was also a level of support at $0.47 that CHZ was consolidating above.

The Bollinger Bands’ width indicator was very low on the charts to show significantly reduced volatility for CHZ on the 4-hour chart compared to its price action in recent weeks. The lower timeframes told a completely different story, as CHZ has made moves amounting to 50% and 30% within the past fortnight alone.

The $0.42-$0.46 region can be used to accumulate CHZ, or a longer-term trader can choose to wait for a deeper retracement. The $0.55-$0.6 has been a region of supply recently, and a breakout past this area can be a buying opportunity.

Ontology [ONT]

VeChain, Chiliz, Ontology Price Analysis: 29 March

Source: ONT/USDT on TradingView

ONT had a clean right-angled, ascending broadening pattern form, and broke out past the $1.44 level and retested the same. This pattern has a projected target of $1.65 following the breakout past $1.44, and it can be seen that there is a level of resistance at $1.66, making it a take-profit level.

At the time of writing, the throwback to $1.44 had already played out- this point was an optimal trade entry. The Directional Movement Index showed a strong upward trend in progress.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.