Origin Protocol / US Dollar Cryptocurrency Forecast

Origin Protocol / US Dollar cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

OGNUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. 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 $0.148. On a fall, the cryptocurrency will find some support from the short-term average at $0.137. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Origin Protocol / US Dollar gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 5.36%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Origin Protocol / US Dollar cryptocurrency

Origin Protocol / US Dollar finds support from accumulated volume at $0.137 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 and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0051 between high and low, or 3.81%. For the last week, the cryptocurrency has had daily average volatility of 5.95%.

Our recommended stop-loss: $0.133 (-3.61%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (OGNUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect Origin Protocol / US Dollar to open at $0.137, and during the day (based on 14 day Average True Range), to move between $0.127 and $0.149, which gives a possible trading interval of +/-$0.0109 (+/-7.90%) 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 15.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.137 (0.80%) than the resistance at $0.141 (2.47%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Origin Protocol / US Dollar of Saturday, May 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.