Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The price of Origin Protocol (OGN) has struggled to break out of a range recently with few bullish signs against Tether (USDT).
Origin Protocol could be set for a major rally after narrowly breaking out above key resistance as other crypto assets continue to trend higher with double-digit gains.
Origin Protocol (OGN) Price Analysis On The Weekly Chart
From the chart, the price of OGN saw a weekly low of $0.188, which bounced from that area and rallied to a price of $0.24.
The price has struggled to build more momentum as it faces resistance at $0.24.
If the price of OGN on the weekly chart continues with this structure, it could quickly revisit $0.2 acting as a good support area for buy bids.
Weekly resistance for the price of OGN – $0.24.
Weekly support for the price of OGN – $0.2.
Price Analysis Of Origin Protocol On The Daily (1D) Chart
The price of OGN found strong support at $0.2, with what seems to be an area of interest on the daily chart.
OGN bounced from its support and has rallied as it faces resistance at $0.24. The price of OGN has continued to range in a channel, breaking out of this channel could send the price of OGN to $0.4 where it will face a major resistance before trending higher in price.
At the point of writing, the price of OGN is at $0.2440, narrowly above the 50 Exponential Moving Average (EMA) which corresponds to $0.240.
OGN needs to hold above this support area that corresponds with the 50 EMA, a break below this region could send the price of OGN to $0.2
The Relative Strength Index (RSI) for the price of OGN on the daily chart is above 40, indicating a low buy bid for OGN.
Daily (1D) resistance for OGN price – $0.2440.
Daily (1D) support for OGN price – $0.20.
Price Analysis OF OGN On The Four-Hourly (4H) Chart
The price of OGN is having a hard time breaking out the ranging channel, where it faces resistance at $0.2440.
On the low timeframe, the price of OGN has remained strong above the 50 and 200 EMA which corresponds to the price of $0.22 acting as support for OGN price. OGN holding above those important regions is good for a trend continuation.
If OGN fails to hold this support due to a sell-off we could see the price of OGN in the region of $0.25.
Four-Hourly (4H) resistance for OGN price – $0.244.
Four-Hourly (4H) support for OGN price – $0.22.
Featured image from currency, Charts from TradingView.com
