Origin Protocol (OGN) Continues to Extend Its Steady Upside Retracement

Although there have been considerable interruptions along the way, the Origin Protocol price action has continued to trend upward. At this point, buyers have shown bullish intentions as price actions continue to rise. More price increases may still be on the way; let’s take a close-up look at things.

Key Origin Protocol Statistics:
Current OGN Value: $0.1246
OGN Market Cap: $90,731,856
Circulating Supply of Origin Protocol: 751,472,542
Total Supply of OGN: 1,000,000,000
Origin Protocol CoinMarketCap Ranking: 326

Key Price Levels:
Resistance: $0.1246, $0.1300, and $0.1400
Support: $0.1200, $0.1100, and $0.1000

 

Origin Protocol Bulls Are Now Testing a Key Resistance

Over the past two trading sessions, price action in the OGN market has been correcting towards higher resistance at the middle limit of the Bollinger Bands. Even the ongoing test of the middle band of the Bollinger Bands still maintains the prospect of breaking through the resistance formed at this point. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator lines continue to indicate that headwinds are losing steam.

The leading lines of this indicator are below the equilibrium level, but one can see that the leading line is bending towards the equilibrium level as if approaching a bullish crossover. Consequently, this suggests that the value of this token will likely increase.

OGN Buyers Are Showing Resilience

In the Origin Protocol 4-hour market, the current session has penned a moderate downward correction. Despite that, technical indicators are still suggesting an optimistic outlook in the short term. Here, price action has just hit the uppermost limit of the Bollinger Bands. Subsequently, a downward correction occurred off of the resistance.

Nevertheless, one can see that the MACD lines continue to trend upward, while the bars of the indicator continue to grow tall and green. By implication, this suggests that upside momentum is still on the rise and prices may still trend towards the $0.1300 mark.

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