Origin Protocol price prediction is poised to break above the 9-day moving average, with the market volatile.
Origin Protocol proposes merging OGN and OGV to increase Ethereum collateralization.
Origin Protocol, a major player in the decentralized finance (DeFi) space, has proposed a strategic merger of its Origin DeFi Governance (OGV) token and its native DeFi Ethereum token, OGN. The proposal, which has been backed by prominent shareholders such as Reddit co-founder Alexis Ohanian and YouTube co-founder Steve Chen, aims to unify their products into one token. This unified token will give users the ability to directly stake Ethereum to earn cryptocurrency rewards.
Origin Protocol Forecast Statistics:
Origin Protocol current price- $0.21
Origin Protocol Market Cap- $121.8 Million
Origin Protocol Circulating Supply - 578.1 Million
Origin Protocol Total Supply - 1 billion
Origin Protocol Coinmarketcap Ranking - #423
OGN/USD Market
Key Levels:
Resistance levels: $0.27, $0.29, $0.31
Support Levels: $0.15, $0.13, $0.11
OGNUSD - Daily Chart
OGN/USD is currently fluctuating around $0.21 and is likely to rise above the 9-day and 21-day moving averages if the bulls increase the pressure. However, the Origin Protocol price has been trading sideways for the past few weeks and is now struggling to break above the moving averages. As the red line of the 9-day moving average is likely to cross below the green line of the 21-day moving average, the Origin Protocol price is likely to face downward pressure.
Origin Protocol Price Prediction: Origin Protocol (OGN) May Continue to Move Sideways
According to the daily chart, if the Origin Protocol price breaks out and remains above the 9-day and 21-day moving averages, it may reach the nearest resistance level of $0.24. However, a successful breakout of this level may open up the opportunity for an increase towards the $0.26 level. Meanwhile, further bullish movement may push the coin towards the potential resistance levels of $0.27, $0.29, and $0.31.
Furthermore, as the 9-day moving average crosses the 21-day moving average downward, the nearest support may be located at the $0.17 level. If this support level is broken, OGN/USD may test another support level before breaking through the lower boundary of the channel. However, further losses may push the price towards the support levels of $0.15, $0.13, and $0.11.
OGN/BTC may rise
Against Bitcoin, the Origin Protocol price is rising, with the coin hovering around 324 SAT. However, if the price slides down and breaks the lower border of the channel, there is a chance that additional support will form in the long term. In this case, the next support level below the current price is near 270 SAT. Moreover, if the price continues to decline, it may hit the critical support below 265 SAT.
OGNBTC - Daily Chart
Conversely, if the bulls continue to dominate the market, the price might make a bullish movement above the upper boundary of the channel with a potential resistance level likely to be located at 380 and above, while the 9-day moving average might form a bullish crossover above the 21-day moving average which could signal a rise.
In the latest update, @JavonTM1 shared on his X (formerly Twitter) with over 36k followers that OGN (Origin Token) is still showing promising signs and could potentially offer over 3x returns. The price has risen by around 102% since the breakout and with a target of $0.67549448, there could be over 204% upside potential!
Origin Protocol Alternatives
Origin Protocol price has surpassed important moving averages, signaling a bullish trend with targets of $0.230 and above. While Origin Protocol strives for further gains, with a market cap of $121.8 million and ranking 423rd in the crypto market, its larger market cap may hinder achieving significant profits. However, the Bitcoin mining industry will launch a staking mining program that allows users to stake BTCMTX tokens to earn cloud mining credits. With the presale having already raised over $12.8 million, traders are encouraged to explore investment opportunities.
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