Origin Protocol (OGN) Continues to Challenge the $0.2400 Price Resistance Level
Login

Origin Protocol (OGN) Continues to Challenge the $0.2400 Price Resistance Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



The Origin Protocol Token has once again appeared as a daily mover in the cryptocurrency market. The price of the token has increased by 0.63% as it continues to challenge the resistance price level at the $0.2300 mark. However, some signs suggest the resistance may remain unbroken.

OGN Statistics:
Current OGN Value: $0.2289
Origin Protocol Market Cap: $131 million
Origin Protocol Circulating Supply: 579 million
OGN Total Supply: 1 billion
Origin Protocol CoinMarketCap Rank: 399

Key Price Levels:
Resistance: $0.2289, $0.2350, and $0.2450
Support: $0.2280, $0.2200, and $0.2150

 

Origin Protocol (OGN) Continues to Challenge the $0.2400 Price Resistance Level

Origin Protocol Bulls Face a Tough Challenge at the $0.2300 Mark

Price action in the OGN daily market has started on a positive note today. However, the current session suggests that the market is up against a tough challenge at this point. This is evident, as the ongoing session seems to have contracted considerably after testing the $0.2300 resistance mark.

The mentioned price level lies at the Fibonacci Retracement level of 23.60. Despite the perceived contraction, it can be seen that the Stochastic Relative Strength Index (RSI) indicator lines are steeply pointed into the overbought region, suggesting that upside forces are still generally in play.

Origin Protocol (OGN) Continues to Challenge the $0.2400 Price Resistance Level

OGN Bulls Are Trying to Retain Dominance

In the Origin Protocol 4-hour market, upon close observation, one can see that prices have increased to $0.2290 from $0.2300. Consequently, this hints that despite the downward correction in the ongoing session, upside forces are still trying to influence price dynamics. Additionally, the last price candle can be seen above the Guppy Multiple Moving Average (GMMA) lines.

Also, the Moving Average Convergence Divergence (MACD) lines have risen past the equilibrium level. However, the bars of the indicator are now pale green. Consequently, this suggests that upside forces aren’t as strong. Therefore, traders who wish to make use of bullish crypto signals, hoping that the market may hit the $0.2350 mark, should do so with caution.

Trade crypto coins on AvaTrade

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News