Origin Protocol (OGN) Nears Critical Resistance, Eyeing Bullish Momentum Above $0.1150

• OGN’s bullish push depends on flipping the $0.098 resistance into support to confirm momentum.
• EMA levels at $0.084 and $0.085 indicate short-term and long-term potential resistance for OGN.
• Breaking the $0.1150 level signals a potential shift in market sentiment towards bullish trends for OGN/USDT.

OGN/USDT is testing a critical resistance at $0.098, a decisive moment for Origin Protocol’s price movement against Tether. Breaking this level could pave the way for a bullish push if the price flips it into support. 

OGN has shown a tendency to respect the descending resistance line and recently broke above it. However, traders await a more robust signal: a clear breakout above $0.1125, confirmed by strong candles and sustained momentum.

Descending Channel and Key Resistance

In recent price action, OGN has moved within a well-defined descending channel, outlined by downward-sloping parallel trendlines. Within this channel, each upward rally halted at the channel’s upper boundary, reinforcing a bearish trend. 

The $0.1150 horizontal resistance, representing an earlier support level, adds another critical hurdle. A breakout above this could suggest a shift in sentiment, potentially signaling a move toward bullish momentum.

EMA Indicators and RSI Point to Potential Trend Shift

On the 4-hour chart, two Exponential Moving Averages (EMAs), the 50-period at 0.084 and the 200-period at 0.085, indicate the potential for a bullish shift. The price currently hovers above the 50 EMA, suggesting short-term bullish momentum, while approaching the 200 EMA, a more substantial resistance. 

A break above the 200 EMA could hint at a trend reversal. Meanwhile, the 14-period Relative Strength Index (RSI) near 59.77 signals mild bullish sentiment, though still below the overbought threshold, suggesting room for further gains.

Bullish Reversal or Continuation of Downtrend

If OGN/USDT breaks the 200 EMA at 0.085 with notable volume, a move toward the previous highs near 0.090 could follow. This shift would signal a potential trend reversal, with buyers increasingly entering the market. However, a failure to break above the 200 EMA may lead to a pullback, potentially toward the 50 EMA or the 0.0831 support level. 

Further declines could test the broader support range between $0.0600 and $0.0650, a zone previously attracting buyers. Thus, OGN remains positioned at a critical level, with a break above $0.1150 as the defining factor for a potential bullish reversal.