Ontology Gas/Tether (ONGUSDT) 24-Hour Market Overview

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Friday, Oct 17, 2025 11:11 pm ET1min read
Aime RobotAime Summary

- ONGUSDT dropped 7.8% to 0.1137 in 24 hours, forming a bearish engulfing pattern with high volume at 0.1206.

- RSI near 30 signaled oversold conditions while Bollinger Bands widened post-0.1203, reflecting heightened volatility.

- Volume surged above 300k ONG during the 0.1155–0.1143 decline, with key support confirmed at 0.1137 and 0.1155.

• Price declined from 0.1234 to 0.1137, a 7.8% drop over 24 hours on the 15-min chart
• A bearish engulfing pattern formed around 0.1206 with high volume, indicating a key reversal
• Momentum weakened as RSI approached 30, signaling potential oversold conditions
• Volatility expanded as Bollinger Bands widened post-0.1203, with price near the lower band
• Turnover surged during the 0.1155–0.1143 leg, with volume exceeding 300k ONG

Ontology Gas/Tether (ONGUSDT) opened at 0.1234 on 2025-10-16 at 12:00 ET, reached a high of 0.1234, and fell to a low of 0.1137, closing at 0.1137 on 2025-10-17 at 12:00 ET. Total 24-hour volume was 14,663,697.0 ONG, with a notional turnover of $1,718,638.82 (assuming $0.1157 as average price for turnover calculation). Price action showed significant bearish momentum.

Over the past 24 hours, key support levels emerged at 0.1155 and 0.1137, with the latter holding during a late-session rebound. The 0.1203–0.1206 range formed as resistance-turned-support, but failed to contain the bearish pressure. A bearish engulfing pattern on 2025-10-16 at 18:30 ET confirmed a shift in momentum, with volume spiking to 93,932 ONG. Additionally, a long lower shadow at 0.1185–0.1195 indicated brief buying interest before sellers regained control.

The 15-minute 20-period EMA dipped below the 50-period EMA, confirming a bearish crossover. Meanwhile, the 50-period daily EMA may have crossed below the 200-period line, deepening the downtrend. MACD lines flattened near zero, with a bearish crossover forming after the 0.1186–0.1179 leg. RSI dropped below 30, suggesting an oversold condition, though not yet a reversal signal.

Bollinger Bands widened significantly during the 0.1155–0.1143 phase, with price touching the lower band multiple times. This expansion reflected increased volatility. Volume spiked during the 0.1155–0.1143 retracement, but notional turnover failed to confirm the move, indicating mixed conviction. Fibonacci levels at 0.1171 (38.2%) and 0.1158 (61.8%) acted as temporary floors, with price falling through both into the 0.1137 level.

Backtest Hypothesis
Given the current price environment and observed technical signals, a potential backtest strategy could focus on a bearish breakout setup targeting the 0.1137–0.1142 range as a key support zone. Entries might be triggered on a break of the 0.1142 level, with a stop just above 0.1155 and a target of 0.1122–0.1115. This strategy would benefit from high volume and RSI divergence seen in the 0.1155–0.1143 retracement. However, due to the missing RSI data for the symbol, we need to confirm the correct exchange symbol (e.g., ONGUSDT.BINANCE) or an alternative pair to proceed with the backtest. If you’d like to continue using this strategy logic with a different symbol or data file, please provide the necessary details.