Origin Protocol (OGN) is exhibiting promising signs indicating a potential trend reversal. Analysis of technical indicators and chart patterns supports expectations of price growth for the token.
MACD Signals a Bullish Turn
A regular bullish divergence is observed on the MACD indicator where OGN’s price has reached lower levels while the MACD histogram has created higher lows. This pattern may signal that selling pressure is weakening, and a reversal could be approaching.
Path Toward $0.25 and Beyond
Currently, OGN is priced around $0.06. If the reversal unfolds as expected, price targets up to $0.25 or even higher are possible, representing a rally of over 300% from current levels. Historically, similar setups have led to sharp upward movements in short periods.
Strategy for Traders
While the MACD divergence appears promising, it’s crucial to wait for confirmation via a MACD crossover and a break above key resistance levels to filter out false signals.
* Entry zone: Between $0.06 and $0.08 * Stop-loss: Below $0.05 * Target: First target at $0.25, with a stretch goal near $0.30
These levels offer a favorable risk-to-reward ratio for both short-term traders and long-term holders.
Origin Protocol shows signs of a potential bullish reversal based on technical indicators and fundamental factors. Traders should cautiously monitor developments in the situation.
