$ONT is still trapped in a macro downtrend… but this reaction from the lows just woke it up.

Sharp bounce printed — buyers finally showing signs of life.
Now price is pushing straight into the 0.12–0.20 supply zone.

This is the battlefield.

Rejection here = trend stays bearish, continuation to the downside likely.
Clean breakout and hold = first real crack in the macro downtrend.

This level decides everything.

Right now?
It’s a classic “prove it” zone.

If bulls flip this into support, momentum can expand fast.
If not, it’s just another lower high in a bigger downtrend.

Eyes on this range — this is where the real move begins.