Origin Protocol Market Overview: Volatile 24-Hour Move with Bearish Short-Term Bias

• Price surged past $2.90 amid strong volume in the early hours but retreated toward $2.75 by market close.
• A bearish reversal pattern emerged at $2.91–$2.92, followed by a significant volume spike during the sell-off.
• RSI signaled overbought conditions near the peak, while Bollinger Bands expanded to reflect heightened volatility.
• OGNTRY traded below both 20- and 50-period moving averages on the 15-minute chart, indicating short-term bearish bias.
• A key support level appears to be forming at $2.75–$2.76, which may test the resilience of bullish sentiment.

Origin Protocol (OGNTRY) opened at $2.824 on 2025-08-26 12:00 ET, surged to a high of $2.916, and closed at $2.786 as of 2025-08-27 12:00 ET. Total volume was 8.67 million units, with notional turnover reaching $23.6 million during the 24-hour window.

Structure & Formations

A key intraday high at $2.916 marked a potential resistance level, where a bearish reversal pattern formed amid waning momentum. The price subsequently broke below key support at $2.875, continuing a downward trajectory toward $2.75. A bearish engulfing pattern at $2.91–$2.92 and a doji near $2.80 suggest indecision and a likely continuation of downward movement.

Moving Averages

On the 15-minute chart, OGNTRY closed below both the 20- and 50-period moving averages, reinforcing short-term bearish momentum. On the daily chart, the 50- and 100-day moving averages are converging, hinting at a possible trend consolidation or reversal if the price can hold above the 200-day MA.

Momentum Indicators

The RSI reached overbought territory near 75 before the sharp decline, indicating a reversal may be due. The MACD showed a bearish crossover in the early hours, aligning with the downward thrust. As of close, RSI stands in neutral-to-bearish territory, around 50, suggesting a possible pause or pullback.

Bollinger Bands

Bollinger Bands expanded significantly in the early hours due to the sharp price move, with the close occurring below the midline and near the lower band. This suggests increased volatility and a potential oversold condition, though confirmation for a bounce remains pending.

Volume and Turnover

The strongest volume surges occurred during the $2.91–$2.87 and $2.87–$2.77 price ranges, with the total volume peaking at ~447,757 units. Notional turnover spiked during the early sell-off, confirming bearish conviction. Divergence between price and volume was observed during the final pullback, suggesting cautious optimism for a near-term bottom.

Fibonacci Retracements

Key retracement levels from the $2.824–$2.916 swing include 61.8% at $2.866 and 38.2% at $2.889. The current price of $2.786 suggests a deeper correction, potentially testing the 78.6% level at $2.756 before stabilizing.

In the next 24 hours, OGNTRY may consolidate near the $2.75–$2.78 range, with a test of the $2.75 support likely. A break below this level could trigger further downside, while a rebound above $2.85 may suggest a short-term rebound. Investors should remain cautious and monitor volume behavior for directional clues.