BINANCE:OGNBTC   Origin Protocol / Bitcoin
Will Origin fly?

Let's wait and see!

Analysis

Entry Point
Right now the price is supported by the major trendline, 20 and 50 MA. But there is a major resistance at 2350-2432 sats . If the price can break, that will be a good sign, and the retest on the daily support will be a good entry. Early entry before that will be a gamble, if it consolidate for the next 30 days.

Target Points
  • TP1 at 0.00003426 with 41% gain
  • TP2 at 0.00004250 with 76% gain
  • TP3 at 0.00005300 with 120% gain
  • Conservative TP at 0.0003183 with 30% gain at the next major weekly resistance

Investor
  • Investment Theme: Polkadot Ecosystem
  • Investment Horizon: Short Term
  • Category: E-Commerce, Marketplace, NFT
Origin Protocol is a network that allows market participants to share goods and services in a decentralised manner. The platform is built on Ethereum blockchain and using Interplanetary File System (IPFS) for storage to eliminate the need for middlemen services. So far they launched NFT website for popular artist, but they need to get more traction and good marketing to take the market share from Shopify, which is there direct competitor. One attractive thing about this project is the team, most of them had worked with the silicon valley giants like PayPal, Youtube, Google and Dropbox , which is good.

Price Prediction
Price prediction model keep the circulating supply of Origin token constant at 316,411,833
  • 1.4 Trillion Total Market Cap, 0.02% Share, $0.88
  • 2 Trillion Total Market Cap, 0.03% Share, $1.90, +214.29% Gain
  • 3 Trillion Total Market Cap, 0.04% Share, $3.79, +428.57% Gain
  • 4 Trillion Total Market Cap, 0.05% Share, $6.32, +714.29% Gain
  • 5 Trillion Total Market Cap, 0.05% Share, $7.90, +892.86% Gain
  • 6 Trillion Total Market Cap, 0.05% Share, $9.48, +1,071.43% Gain
  • 7 Trillion Total Market Cap, 0.05% Share, $11.06, +1,250.00% Gain

** I'm a novice trader, and this is part of my studies. So it's strictly not a financial advice.
Feel free to share your thoughts and feedback about my analysis.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.