Hello everybody,
Keeping this short and sweet ~ it is quite obvious OGN has struggled to overcome it's latest local resistance/support levels. Here, I have drawn out a simplistic version of my point of view with OGN.
OGN has successfully defended its support recently at .58, and tried to push back up, leading to a slow bleed over the weekend. As observed, OGN has also lost more than 50% of its original daily volume. (this is obviously expected after a 200% pump.) OGN seems to be cooling off for now however, retail need not to worry, as this is completely normal. If anything, this is bullish for OGN. Historically, OGN is known to dump right after large pumps. So there is still volume in the market. As of today (3/27/22) Daily Volume sits at $99.8M according to CoinMarketCap; showing that a majority of the big players have already exited their larger positions, and we are left with traders and retail mainly moving the market per usual.
A few things to keep in mind for this upcoming summer regarding Origin Protocol and it's team are; 1: the release and Airdrop of OGV to all OGN holders, 2: The full release of Origin Story (Origin Protocol's NFT Marketplace already hosting record breaking sales with celebrities like Paris Hilton and Tommy Trumpet.) Although, there are things like the Picasso flop, that included a great-grandson of Pablo Picasso selling "Picasso NFT's" leading to the great-grandson to denounce his artwork as his own, rather than Picassos.)
OGN seems to be a strong coin, not only because of its latest pump, but due to OUSD's staking capabilities, holders are also left with the choice to convert OGN, ETH, etc. into OUSD and let it compound without actually needing to lend the coin via reward pools.
OGN is surely a high potential coin, keeping its creators in mind, we aren't dealing with random run of the mill nobodies when it comes to OGN, there is Josh Fraser (CoFounder), Matthew Liu (CoFounder), Yu Pan (Founding Engineer, originally one of the 6 creators of PayPal and the 1st employee at YouTube.) And the list goes on.
There are plenty of reasons to buy OGN, and I'm sure there are plenty of reasons why people think they should sell their OGN, but I believe it could truly be something great someday.
not *FA*
OGNUSD
Keeping this short and sweet ~ it is quite obvious OGN has struggled to overcome it's latest local resistance/support levels. Here, I have drawn out a simplistic version of my point of view with OGN.
OGN has successfully defended its support recently at .58, and tried to push back up, leading to a slow bleed over the weekend. As observed, OGN has also lost more than 50% of its original daily volume. (this is obviously expected after a 200% pump.) OGN seems to be cooling off for now however, retail need not to worry, as this is completely normal. If anything, this is bullish for OGN. Historically, OGN is known to dump right after large pumps. So there is still volume in the market. As of today (3/27/22) Daily Volume sits at $99.8M according to CoinMarketCap; showing that a majority of the big players have already exited their larger positions, and we are left with traders and retail mainly moving the market per usual.
A few things to keep in mind for this upcoming summer regarding Origin Protocol and it's team are; 1: the release and Airdrop of OGV to all OGN holders, 2: The full release of Origin Story (Origin Protocol's NFT Marketplace already hosting record breaking sales with celebrities like Paris Hilton and Tommy Trumpet.) Although, there are things like the Picasso flop, that included a great-grandson of Pablo Picasso selling "Picasso NFT's" leading to the great-grandson to denounce his artwork as his own, rather than Picassos.)
OGN seems to be a strong coin, not only because of its latest pump, but due to OUSD's staking capabilities, holders are also left with the choice to convert OGN, ETH, etc. into OUSD and let it compound without actually needing to lend the coin via reward pools.
OGN is surely a high potential coin, keeping its creators in mind, we aren't dealing with random run of the mill nobodies when it comes to OGN, there is Josh Fraser (CoFounder), Matthew Liu (CoFounder), Yu Pan (Founding Engineer, originally one of the 6 creators of PayPal and the 1st employee at YouTube.) And the list goes on.
There are plenty of reasons to buy OGN, and I'm sure there are plenty of reasons why people think they should sell their OGN, but I believe it could truly be something great someday.
not *FA*
OGNUSD
Comment:
Comment:
Vol. Starting to steam down for a bit. Could be hinting towards a slippage in selloff.
source: coinmarketcap.com/cu...ies/origin-protocol/
source: coinmarketcap.com/cu...ies/origin-protocol/
Comment:
Added more respective levels, seems .52 is the last stand ~
Short's loaded up
Added more respective levels, seems .52 is the last stand ~
Short's loaded up
Comment:
There was a brief pause in selloff during the night. OGN had to cool off, but it seems that it's made its mind up to continue the selloff. Here I have spotted a new bearish engulfing candle on the 4H, it is highlighted for ease.