OGN prices surpass the long-coming resistance trendline as the buying pressure forms an engulfing candle challenging the 50-day SMA. Key technical points: The OGN market price has increased 17.08% over the past 24 hours. The trendline breakout rally faces opposition from the 50-day SMA. The 24-hour trading volume of Origin Protocol is $100 Million, indicating a hike of 67%. Past Performance of OGN OGN prices show a bullish attempt to break above the resistance trendline that has kept the bearish influence over the price trend for two months. The increase in buying pressure near the $0.18 support level resulted in a surge above 15% to surpass the resistance trendline. Source- Tradingview OGN Technical Analysis OGN prices showcase a boom in buying pressure as the trading volume jumps to support the price jump. Hence, the candle closing above the resistance trendline will likely result in a price jump to $0.30. The crucial SMAs – 50, 100, and 200-days maintain a bearish trend, with the 50-day SMA providing resistance to the breakout attempt. Hence, the breakout of the SMA will result in a high-momentum uptrend. The RSI slope shows an uptrend surpassing the 14-day SMA and preparing a jump above the halfway line. Hence, the indicator shows an increase in the underlying bullishness. The MACD indicator shows the fast and slow line trapped in a sideways trend, giving no decisive signal. Hence, the MACD indicator gives a neutral signal at the current market price. nIn a nutshell, the OGN technical analysis forecasts a bullish breakout rally surpassing the $0.30 mark. Upcoming Trend OGN prices can surpass the overhead resistance at the $0.30 mark if the uptrend surpasses the 50-day SMA. Hence, the breakout rally can reach the $0.40 mark if the buying pressure grows overnight. Resistance Levels: $0.30 and $0.40 Support Levels: $0.20 and $0.18
The post OGN Technical Analysis: Bearish Breakdown Retest Warns Death Spiral appeared first on Cryptoknowmics-Crypto News and Media Platform.
- Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. FREE ACCESS.
- CryptoHawk. Altcoin Radar. Free Trial.
- Source: https://www.cryptoknowmics.com/news/ogn-technical-analysis-bearish-breakdown-retest-warns-death-spiral/?utm_source=rss&utm_medium=rss&utm_campaign=ogn-technical-analysis-bearish-breakdown-retest-warns-death-spiral
- "
- 100
- a
- analysis
- bearish
- Block
- boom
- Breakdown
- breakout
- Bullish
- Buying
- challenging
- closing
- crucial
- Current
- decisive
- Display
- driving
- faces
- FAST
- First
- forms
- from
- Giving
- HTTPS
- Increase
- increased
- influence
- jump
- Key
- Level
- levels
- likely
- Line
- maintain
- mark
- Market
- Media
- million
- months
- Near
- news
- opposition
- performance
- points
- pressure
- price
- protocol
- providing
- rally
- reach
- Selling
- showcase
- support
- support level
- surge
- Technical
- Technical Analysis
- The
- Trading
- upcoming
- volume