<strong><em>OGN price action shows a double bottom breakout retest ready to restart the breakout rally and reach the psychological barrier at $0.50.</em></strong>

Key technical points:
<ul>
 	<li>The OGN market value increased by 11.20% today at press time.</li>
 	<li>The price action teases a morning star pattern formation.</li>
 	<li>The 24-hour trading volume of Origin Protocol is $152 Million, indicating a drop of 1.31%.</li>
</ul>
<h2><strong>Past Performance of OGN</strong></h2>
The failure of the uptrend to stay over 200 days EMA and the $0.70 level, triggered a downfall of 75% in market value. This resulted in the $0.50 breakout, and the falling prices took support around the $0.18 mark. However, the buyers created a double bottom pattern, which resulted in a bullish reversal and the $0.28 breakout. Currently, the neckline retests kick off an ensuing rally by forming a morning star.

<img src="https://s3.tradingview.com/snapshots/c/ca66IZvf.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/ca66IZvf/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>OGN Technical Analysis</h2>
OGN/USD price chart shows the 50-day EMA providing resistance to the bullish growth, which led to the double bottom breakout retest. However, the EMA breakout chances increase as the post-retest rally shows no higher price rejection at press time. The falling trend in the 50(red), 100(blue), and 200-day (black) EMAs maintain a bearish alignment with the 50-day EMA providing dynamic resistance. Hence, traders can expect the EMA breakout as a bullish entry spot.

The RSI slope shows a sharp diagonal rise after the parabolic uptrend reversing the oversold territory to surpass the 14-day SMA. Furthermore, the MACD indicator shows an uptrend in the fast and slow lines as they diverge to regain bullish alignment. In a nutshell, OGN <a href="https://www.cryptoknowmics.com/news/ada-technical-analysis-buyers-are-alive-and-kicking/">technical analysis</a> shows an increase in buying pressure, ready to reach $0.50.
<h2>Upcoming Trend</h2>
The 50-day EMA breakout will signal an entry spot for buyers as the breakout rally can push the OGN market value to $0.50. However, a reversal from the 50-day EMA can undermine the bullish pattern breakout and breach the $0.30 mark.

<strong>Resistance Levels:</strong> $0.40 and $0.50

<strong>Support Levels:</strong> $0.30 and $0.18

OGN Technical Analysis: Will the Breakout Rally Surpass $0.50?

OGN technical analysis shows a double bottom breakout retest ready to restart the breakout rally and reach the psychological barrier at $0.50.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

OGN Technical Analysis: Will the Breakout Rally Surpass $0.50?

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