Market Overview for Ontology Gas/Tether (ONGUSDT) – October 23, 2025

• Price drifted lower in overnight Asian trade but showed modest recovery in early North American hours.
• A bearish engulfing pattern emerged at 0.1122 before a slight reversal into consolidation near 0.1135.
• Volatility expanded through the morning, with intraday range reaching ~0.0029.
• Volume spiked in late Asian and early North American hours, confirming bearish pressure and subsequent indecision.
• RSI hovered around neutral mid-40s, suggesting limited overbought or oversold conditions.

Market Overview for Ontology Gas/Tether (ONGUSDT)

Ontology Gas/Tether (ONGUSDT) opened at 0.1150 on October 22 at 12:00 ET, reached a high of 0.1156 and a low of 0.1086, and closed at 0.1132 on October 23 at 12:00 ET. Total trading volume for the 24-hour window was ~1.64 million ONG, while notional turnover reached approximately $186,000. Price action showed a moderate bearish bias during the Asian session, followed by a mixed consolidation phase in the North American window.

Structure & Formations

Price action on the 15-minute chart showed a key bearish engulfing candle forming at 0.1122 in the early North American session, confirming short-term weakness. A small-bodied doji formed at 0.1133 later, suggesting potential indecision. The 0.1126–0.1132 range acted as a short-term floor, with 0.1147–0.1151 appearing as a potential near-term resistance cluster. Notable swing low at 0.1096 could offer a 61.8% Fibonacci retracement level at 0.1123 if price attempts a rebound.

Moving Averages

On the 15-minute chart, price currently sits below both the 20-period and 50-period moving averages, signaling a short-term bearish bias. The 20SMA has been descending from 0.1144 to 0.1136, while the 50SMA is at 0.1141. On the daily timeframe, the 50DMA is at 0.1138, with the 100DMA at 0.1152 and the 200DMA at 0.1168, indicating a longer-term bearish trend.

MACD & RSI

The MACD line has been negative and declining, with a bearish crossover confirmed below the signal line. RSI has been hovering between 40–55, indicating moderate momentum but no strong overbought or oversold conditions. The RSI low of 38.7 in early North American trade suggested a potential near-term support, which held as price rebounded slightly.

Volatility and Volume

Bollinger Bands widened in the Asian session, with price dipping below the lower band at 0.1096 before consolidating within the bands in the North American window. The 21-period BB width was approximately 0.0036 at peak expansion. Volume showed a sharp increase in the 0400–0600 UTC window, coinciding with a ~0.004 decline in price, suggesting selling pressure. However, recent volume has declined with price consolidation, indicating waning momentum on both sides.

Backtest Hypothesis

The backtesting strategy described involves utilizing RSI to identify overbought or oversold conditions for a given ticker. However, the symbol provided (“HOLD.P”) could not be resolved in the data source, as it likely represents a non-public or class-specific share type. For the strategy to proceed effectively, we recommend confirming the correct ticker symbol for the asset intended for analysis. If RSI-based trading is the goal, a primary listing symbol (e.g., “HOLD”, “HPLX”, etc.) or an alternative ETF/stock should be provided. Once the correct ticker is confirmed, the RSI series can be retrieved and integrated into the backtest. This will allow for accurate identification of potential entry and exit signals based on RSI thresholds.