Origin Protocol Price Prediction 2021 – Will OGN Hit $5 Soon?

This Origin Protocol (OGN) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our OGN price analysis and prediction.

This Origin Protocol Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our OGN price analysis and prediction.

Among the cryptocurrencies that are rallying this year, Origin is perhaps one of the most surprising for some. It is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today.

But for those that are aware, Origin Protocol has been around since 2017. It recently made headlines after hitting almost $3.39 on April 08, 2021.

Can Origin Protocol reach $5 in 2021? We will find out shortly. But before we proceed to our Origin Protocol price analysis, let us first answer the question “What is Origin Protocol?” in this OGN prediction 2021 article.

What is Origin Protocol (OGN)?

Origin Protocol is a network that enables market participants to distribute goods and services via peer-to-peer (P2P) networks. Moreover, the platform focuses to create an extensive online platform that leverages the Ethereum (ETH) blockchain and Interplanetary File System (IPFS), however to eliminate middlemen’s need.

More so, the protocol enables the creation of a decentralized setting where both buyers and sellers can combine, check for available listings, write reviews and perform many other actions. With this, fractional utilization of assets could be traded more easily.

Now that we have an idea about OGN, do you think OGN will be profitable crypto in 2021? Join me and let us see the charts in this OGN price analysis and OGN price prediction.

OGN Current Market Status

As of the time of writing this Origin price analysis, OGN trades at $0.8347 with a 24-hour trading volume of $65,338,870. The price of OGN has decreased by 0.69% in the last 24 hours.

Furthermore, OGN has a current circulating supply of 313,621,402.54 OGN. Currently, the top cryptocurrency exchanges for OGN are Binance, Huobi Global, HitBTC, BitZ, and Bitcoin.com Exchange.

Now, let’s proceed to the next part of this OGN technical analysis for 2021.

Origin Protocol Price Analysis

Currently, OGN holds 204th place on CoinGecko. But will the latest upgrades, development, and changes in the OGN blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this OGN price prediction article.

In the daily frame chart shown above, we can see the bullish Falling Wedge Pattern. Moreover, this could immediately follow a price breakout. Moreover, the falling wedges slopes down and contains a bullish bias.

More so, this bullish bias cannot be analysed till a resistance breakout occurs. As a continuation pattern, the falling wedge will slope down further, however the slope would stay against the predominant upward signal. As a reversal pattern, the falling wedge slopes down and with the predominant trend.

As shown above, at the beginning of this month, OGN turned from its bull to bear trend. This is the result of the high trade volume that occurs during that time.

The Relative Strength Index (RSI) is above 44.39, which means that OGN is in neither overbought nor oversold state. Hence, traders may trade safely without any fear. Keeping all this in mind, traders could be aware and shift away from unexpected losses that occur due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of OGN.

Since the start of 2021, OGN’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, OGN has a competitive market this 2021.

Origin Protocol Price Prediction 2021

The chart below shows that Origin Protocol has performed great over the past few days. Moreover, the OGN price is over 42% in the last 7 days. If this trend continues, OGN might run along with the bulls, overtaking its $5.387 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone OGN from its uptrend position. In simpler terms, the price of OGN might plummet to almost $1.12, a bearish signal.

Meanwhile, our long-term OGN price prediction 2021 is bullish. It has a high possibility of surging over its current all-time-high (ATH) at about $3.39 this year. However, that will only takes place if it breaks many past psychological resistances.

Conclusion

Origin Protocol has a bright future ahead of it in 2021. With the ongoing developments happening within the OGN ecosystem, as well as in the overall crypto market, we may see OGN reach new heights. Bullish OGN price prediction 2021 is $4.41. As said above, it may even reach $5.38 if investors have decided that OGN is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/origin-protocol-price-prediction-2021-will-ogn-hit-5-soon/