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The OGN token price has increased by 3.30% and is about to cross another key threshold. Some indications seem to reveal that this may eventually occur, but to some extent, it seems to be at the developmental stage. Lets look closer to see what may happen here shortly.
OGN Statistics:
Origin Protocol Value Now: $0.0920
Origin Protocol Market Cap: $50,551,081
OGN Circulating Supply: 559,619,043
OGN Total Supply: 1,000,000,000
Origin Protocol CoinMarketCap Ranking: 364
Major Price Levels:
Top: $0.0920, $0.1000, and $0.1100
Base: $0.0900, $0.0850, and $0.0800
Origin Protocol: Downward Forces Are Growing Weak
The above-mentioned upside gains of 3.30% in the Origin Protocol daily market seem to have started weakening downward forces. This inference is drawn from the Moving Average Convergence Divergence (MACD) indicator, as its bar changed appearance below the equilibrium level from solid to pale red.
Meanwhile, the curves seem to be trending sideways now, while the last price candle for the ongoing session has placed the current price of the token at the 61.80 Fibonacci retracement level. As earlier mentioned, this market already has some positive indications but calls for more careful observations.
OGN Is Making Progress
In the OGNUSDT 4-hour market, it appears that buyers have spotted the developing upside momentum in this market. Consequently, this has caused the price to keep advancing on its upside path. Here, another green price candle has appeared above the middle limit of the Bollinger Bands indicator. At the same time, the Bollinger Bands is narrowing up, which indicates that price action may move significantly in one direction soon.
Additionally, the Relative Strength Index curve can be seen rising sharply upwards, which also indicates that upside momentum is spiking in this market. Therefore, traders can still target a retracement of the $0.1000 mark.
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