- Origin Protocol signals a strong bullish reversal as MACD divergence and volume accumulation support a potential 300 percent breakout.
- OGN builds solid support at $0.05 with momentum indicators flashing bullish signals, setting the stage for a major trend reversal.
- A breakout above the long-term descending trendline could trigger exponential gains as historical patterns and technicals align.
According to analyst Javon Marks, Origin Protocol (OGN) is showing strong signs of a bullish reversal after confirming a regular MACD divergence. At $0.068561, the token trades up by 2.31%. However, the bigger picture suggests a much deeper shift. Prices could surge by over 300%, potentially retesting the $0.251 range in the coming months, as per the chart.
The analysis shows price action from 2021 through projected movements up to 2029. OGN hit a peak of nearly $3.50 during the 2021 bull market. After this euphoric top, intense selling pressure drove the asset into a prolonged downtrend. Throughout 2022 and 2023, lower highs and lower lows defined the market structure. The descending trendline firmly capped all rally attempts.
Source: Javon Marks
Moreover, each breakout attempt met stiff rejection near the same technical resistance zone. This supported bearish dominance. Besides price movement, trading volume offers further insights. Activity spiked during the 2021 peak and during sharp declines, confirming strong investor engagement during volatile periods.
Base Formation and Momentum Signals
The price of OGN maintained a stable foundation at $0.05 throughout late 2023 to early 2024. A lengthy consolidation period developed a strong structural foundation. The momentum indicator produced several bullish divergence signals throughout this timeframe. The market appears to switch its direction from bearish to bullish according to these signals.
Additionally, the momentum oscillator now hovers around neutral, showing a balanced battlefield between buyers and sellers. However, this equilibrium may not last long. The pressure is mounting near the long-term descending trendline. A clean break above could trigger explosive gains.
Breakout Levels and Upside Potential
Origin Protocol now trades just below critical resistance. A confirmed breakout above this trendline could send OGN soaring. Historical patterns support the possibility of exponential growth once key resistance gives way. Moreover, volume shows strong accumulation in the $0.05 to $0.15 zone.
Hence, volume expansion may validate the breakout. If this happens, price momentum could accelerate rapidly. Consequently, traders watch closely for a decisive candle above resistance. That move could redefine Origin Protocol’s medium-term trajectory.
