Origin Protocol (OGN) Sees a Sharp Upside Retracement

The Origin Protocol market has extended its upside retracement of over 8% today. However, as of the time of writing, the coin holds a price increase of 7.63%. Nevertheless, the price increase has come as an extension of what started in the previous session. At this point, this market maintains a promising look as prices may still increase.

OGN Statistics:

Origin Protocol Price: $3.931

OGN Market Capitalization: $101.34M

OGN Circulating Supply: 689.31M

Origin Protocol Total Supply: 1.4B

OGN CoinMarketCap Rank: 454

Key Price Levels:

Resistance: $0.1600, $0.1800, $0.2000

Support: $0.1500, $0.1300, $0.1100

OGN Eyes Finding Support Above $0.1600

The Origin Protocol market has seen notable price increases since the previous session. The previous price candle advanced price action through all the Moving Average (MA) curves. The mentioned price candle also closed above the psychological price level of $0.1400. Subsequently, the ongoing session had begun above this price level and has presented a considerable price increase.

In addition, the mentioned price candle has its upper shadow protruding above the psychological resistance level of the $0.1600 mark. As such, this market still has the potential of closing above that price level. Meanwhile, the Stochastic RSI lines are still rising upward and continue to rise into the overbought region.

Origin Protocol Buyers Remain Optimistic

In the 4-hour market timeframe of the OGN token market, buyers could be perceived as still mounting bullish pressure. The corresponding price candle to the ongoing session portrays a bullish contraction, which has caused the price candle to have a long lower shadow.

Meanwhile, the Stochastic RSI lines can be seen in the overbought region of the indicator. Also, the lead line seems to be preparing to drag in that region of the indicator. However, should upside forces be insufficient, we may see a rejection at the $0.1600 ceiling. Nevertheless, traders can target price levels below the $0.1650 threshold.

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