Origin Protocol / US Dollar Cryptocurrency Forecast
Origin Protocol / US Dollar cryptocurrency price ended at $0.148 on Saturday, after gaining 0.0339%.
(Updated on May 04, 2024)
The Origin Protocol / US Dollar cryptocurrency price gained 0.0339% on the last trading day (Saturday, 4th May 2024), rising from $0.148 to $0.148. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 6.14% from a day low at $0.140 to a day high of $0.149. The price has fallen in 6 of the last 10 days and is down by -11.02% for this period. Volume fell on the last day by -6 million shares and in total, 2 million shares were bought and sold for approximately $293.24 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.135 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -5.74% during the next 3 months and, with a 90% probability hold a price between $0.128 and $0.222 at the end of this 3-month period.
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OGNUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 8.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Origin Protocol / US Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.177. On a fall, the cryptocurrency will find some support from the short-term average at $0.145. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Origin Protocol / US Dollar cryptocurrency
Origin Protocol / US Dollar finds support from accumulated volume at $0.146 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0086 between high and low, or 6.14%. For the last week the cryptocurrency has had daily average volatility of 7.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OGNUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect Origin Protocol / US Dollar to open at $0.145, and during the day (based on 14 day Average True Range), to move between $0.131 and $0.164, which gives a possible trading interval of +/-$0.0162 (+/-10.98%) up or down from last closing price. If Origin Protocol / US Dollar takes out the full calculated possible swing range there will be an estimated 21.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.146 (1.06%) than the resistance at $0.153 (3.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Origin Protocol / US Dollar cryptocurrency A Buy?
Origin Protocol / US Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency.
Current score: -3.416 Sell Candidate Unchanged
Predicted Opening Price for Origin Protocol / US Dollar of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $0.145 ( 1.53%) | $0.148 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OGNUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.154 | 4.29 % | |
| R2 | 0.151 | 2.06 % | ||
| R1 | 0.149 | 0.690 % | ||
| Current price: | 0.148 | |||
| Support | S1 | 0.142 | -3.76 % | |
| S2 | 0.140 | -5.13 % | ||
| S3 | 0.137 | -7.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.179 | 21.14 % | |
| R2 | 0.178 | 20.78 % | ||
| R1 | 0.153 | 3.41 % | ||
| Current price | 0.148 | |||
| Support | S1 | 0.146 | -1.06% | |
| S2 | 0.141 | -4.33% | ||
| S3 | 0.136 | -8.04% |
FAQ
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