Market Overview for Origin Protocol/Tether (OGNUSDT) as of 2025-10-28

• Origin Protocol/Tether (OGNUSDT) traded in a tight range, with a bearish close near the session low.
• Volume surged past 350,000 units, but price failed to break above 0.05, indicating resistance.
• RSI and MACD showed weakening momentum, with RSI approaching oversold territory.
• Price action revealed a potential exhaustion pattern near key Fibonacci levels.

The OGNUSDT pair opened at $0.0491 at 12:00 ET − 1 and closed at $0.0483 by 12:00 ET on 2025-10-28. The 24-hour range was $0.0476 to $0.0501, with total traded volume exceeding 350,000 units and a notional turnover of approximately $17,340 (based on average price). Traders appear to be consolidating below 0.05, with a key pivot at 0.0491 offering immediate support.

Structure & Formations

Price has been contained within a descending channel, with resistance at 0.05 and support at 0.0485 holding firm. A bearish engulfing pattern formed during the overnight hours, indicating a likely continuation of the downtrend. A doji candle at 0.0485 in the early morning signaled indecision and possible short-term reversal, though it failed to hold. Fibonacci retracements show 0.0485 as the 61.8% level from the high of 0.0501, suggesting the area is critical for near-term buyers.

Moving Averages and MACD

The 15-minute chart shows price consistently below both 20-period and 50-period moving averages, reinforcing the bearish bias. MACD lines have crossed below the signal line, forming a bearish crossover, while the histogram continues to shrink — a sign of waning downward momentum. On the daily chart, the 50- and 200-day moving averages are converging, with price near the 50-day line.

Bollinger Bands and Volatility

Volatility has slightly expanded, with price trading near the lower Bollinger Band, indicating a potential oversold condition. However, the lack of a rebound above the middle band suggests further downside is possible before finding a base. A sustained break above the upper band would signal renewed bullish momentum, though this appears unlikely in the short term.

Backtest Hypothesis

Given the current technical conditions, a backtest based on MACD death-cross (i.e., when the MACD line crosses below the signal line) could provide insight into potential sell signals or risk management triggers for this pair. With the MACD line already below the signal line and volume confirming the bearish bias, historical death-cross events could help determine if this is a short-term pullback or the start of a longer downtrend. Unfortunately, due to an issue with the data source, the MACD data for “OGNUSDT” could not be retrieved. To proceed, we can either retry with an alternative symbol format (e.g., “OGN/USDT”), supply the price series manually for local computation, or switch to a different exchange pair. Once the data is confirmed, the backtesting can be run to evaluate the effectiveness of this signal on OGNUSDT.