OGN The next price level may be $0.3

The original protocol was one of the most innovative projects in the cryptocurrency industry. Recently, the protocol launched a tokenomics mechanism for its network. Origin Dollar Governance (OGV) has been a game changer and should be in many exchanges by the end of the month. The launch also saw an increase in prices for the Origin Protocol, with prices reacting to the markets.

Since its launch, however, prices have lost momentum and started trading in a sideways market. The latest announcement from an NFT market builder known as Collections also does not appear to have had an impact on the markets. Prices are still trending sideways, and despite today’s and yesterday’s bullish trading sessions, there is a good chance that we will see a continuation of the long-term sideways market.

Origin Protocol Price Prediction

Much of what happened to the prices of the Original Protocol was determined by market forces far beyond its control. This included the last bear market in June which, at one point, saw the prices of the original protocol fall by 45%. Although prices have since rallied considerably and the original protocol was only down 22% for the month, the current cryptocurrency bear market played a significant role.

Today, the Origin Protocol is up more than a full percentage point, extending the bull run that started yesterday, which has seen prices surge almost 8%. Looking at the chart below, we can see that prices failed to break the $0.28 resistance level on the upside on multiple occasions. The current price surge is also near the resistance level.

Using the price action of the past trading days, there is a high probability that the current price surge will hit and break above the resistance level on the upside. It is also highly likely that we will see prices trading above $0.3. If prices have enough momentum, we could see prices trading above the $0.36 price level and establishing a new monthly high.

However, a trade below the $0.2360 price level will invalidate my bullish analysis. This would signal that prices have failed to rally but are continuing their downtrend.

Original Protocol Daily Table

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