The price of Origin Protocol (OGN) has struggled to break out of a range recently with few bullish signs against Tether (USDT).
Origin Protocol may be poised for an important rally, after breaking through the key resistance narrowly. Other crypto assets are trending higher with double-digit gains.
Origin Protocol (OGN), Price Analysis on The Weekly Chart
As you can see, OGN fell below $0.188 in the week. It rebounded, and now trades at $0.24.
As it meets resistance at $0.24, the price is struggling to gain momentum.
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.
Pricing Analysis Of Origin Protocol On A Daily (1D) Chart
OGN’s price found support at $0.2, which seems to indicate an area of interest in the daily chart.
OGN rallied after it lost support. It now faces resistance at $0.24. OGN prices have been fluctuating within a channel. A break out from this channel may send OGN price to $0.4, which will be a significant resistance. Then OGN could trend higher.
As of the writing of this article, OGN’s price is 0.2440. That’s just slightly above the 50 Exponential moving average (EMA), which equals $0.240.
OGN should maintain above the support area which corresponds to 50 EMA. Any break below the region could lead to OGN dropping to $0.2
Relative Strength Index, (RSI), for OGN’s price per unit on the daily chart is higher than 40. It indicates a low OGN buy bid.
Daily (1D) resistance for OGN price – $0.2440.
Daily (1D) support for OGN price – $0.20.
OGN Chart Price Analysis
OGN prices are having trouble breaking through the resistance of $0.2440 in the ranging channel.
OGN prices have remained high above the 50 and 200 EMA levels for a very short period of time. That corresponds with $0.22, which acts as support to OGN price. OGN is expected to continue its trend by holding the price above important regions.
OGN could drop to $0.25 if it loses this support from a sale.
Four-Hourly (4H) resistance for OGN price – $0.244.
Four-Hourly (4H) support for OGN price – $0.22.
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