✴️ OGN Short-Term | Bullish All The Way (A Closer Look)

9 Okt 2023

✴️ Origin Protocol Short-Term | A Closer Look

Bullish action is ON!

Origin Protocol (OGNUSDT) managed to conquer EMA300 as resistance and is now undergoing a retrace.

We looked at this pair long-term and now we would like to have a closer look.

Origin Protocol hit a low 10-June and quickly moved up to find EMA300 working as resistance.

After a higher low 17-August, another challenge of EMA300 as resistance fails and OGNUSDT enters a small retrace.

Finally, late September OGN managed to break above EMA300 on rising volume.

After a strong resistance level is conquered it is common to see a test of previous resistance as support.

The price at which OGNUSDT is trading now matches the 23-July and 8-September sessions price range. As this level is tested and holds as support, then OGNUSDT is likely to resume going up.

The main support levels now stand out as EMA21 or 0.11289, matching 0.618 Fib. retracement at 0.11567. This is a strong level and can easily hold.

If prices move lower, the 0.786 Fib. retracement (0.09400) is very likely to work.

👉 There can be some variations in the very, very short-term, but Origin Protocol is set to continue growing on all timeframes... See the arrows on the chart for a rough projection.

Bullish all the way.

Namaste.