Origin Protocol Price Prediction 2021 – Will OGN Hit $2.37 Soon?

Origin Protocol Price Prediction 2021 - Will OGN Hit $2.37 Soon?
  • Bullish OGN price prediction ranges from $0.95 to $2.03.
  • The OGN price might also reach $2.37.
  • OGN bearish market price prediction for 2021 is $0.14.

In Origin Protocol (OGN) price prediction 2021, we use statistics, price patterns, ADX, and much other information about OGN to analyze the future movement of the cryptocurrency

The Origin Protocol is a network that enables market participants to exchange goods and services through a peer-to-peer (P2P) network. The platform aims to create a huge online market by using the Ethereum (ETH) blockchain. OGN deals with the basic problems of the existing online market, such as unfair transaction fees, lack of transparency, lack of innovation, and centralization issues.

Current Market Status of Origin Protocol (OGN)

According to Coingecko, the price of OGN is $0.88 with a 24-hour trading volume of $58,144,085 at the time of writing. However, OGN dropped to 10.2% in the last 24 hours.

Moreover, OGN has a circulating supply of 346,148,498 OGN coins. Currently, OGN trades in cryptocurrency exchanges such as Binance, Tokocrypto, Huobi Global, Upbit, and Hotcoin Global.

Origin Protocol (OGN) Price Prediction 2021

Origin Protocol (OGN) holds the 169th position on CoinGecko right now. OGN price prediction 2021 explained below with a daily time frame. 

OGN/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is a bearish chart pattern, designed by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. A descending triangle pattern is a signal for traders to take a short position to accelerate a breakdown.

Currently, OGN is trading at $0.95. After this, OGN may continue to fall or rise according to the direction of breakout. With this pattern, OGN might reach the resistance level at $2.03 soon. If the trend reverses, then the price of OGN may fall to $0.55.

Origin Protocol (OGN) Support and Resistance Level

The below chart shows the support and resistance level of OGN. 

OGN/USDT Support and Resistance Level (Source: Tradingview)

From the above chart, it is observed that the following are the resistance and support levels of OGN.

  • Resistance Level 1 – $0.95
  • Resistance Level 2 – $1.44
  • Resistance Level 3 – $2.37
  • Support Level 1 – $0.53
  • Support Level 2 – $0.24
  • Support Level 3 – $0.14

The chart depicts the bullish performance of OGN over the previous month. However, this trend will break out and reach resistance level at $2.37. On the contrary, if the trend reversed then OGN might fall to $0.14 presenting a bearish signal.

Origin Protocol (OGN) Average Directional Index (ADX)

Let us now look at OGN’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

OGN/USDT ADX (Source:TradingView)

The above chart represents the ADX of OGN with the range at 33.56, so it indicates a strong trend.

Conclusion

The OGN is one of the cryptos which is great for long-term investment. In addition, short-term OGN price prediction will be bearish, until the breakout. But, it has a good chance of reaching $3.35 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the OGN ecosystem, the performance of OGN would rise reaching $1.53 very soon. But, it might also reach $2.03 if the investors believe that OGN is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.