Summary
• Price tested key support at $0.0293 before rebounding.
• Volume surged during a 0.5% rally in late ET hours.
• RSI signaled oversold conditions, now trending neutral.
• Bollinger Band contraction in early session suggested low volatility.
• A bullish engulfing pattern formed near 0.0295–0.0308 range.
Origin Protocol/Tether (OGNUSDT) opened at $0.0298 on 2025-12-18 at 12:00 ET, reached a high of $0.0313, a low of $0.0291, and closed at $0.0311 on 2025-12-19 at 12:00 ET. Total volume was 13.9 million contracts, with a notional turnover of approximately $4.3 million across the 24-hour window.
Structure & Formations
Price found critical support at $0.0293, a level previously acting as a floor during early ET selling pressure. A
engulfing pattern formed around $0.0295–$0.0308, suggesting short-term buyers may have re-entered. The $0.0308–$0.0312 range appears to be a key congestion zone, potentially forming a new base ahead of further upside.
Moving Averages
On the 5-minute chart, price has consistently traded above the 20-period and 50-period moving averages, supporting a bullish bias. On the daily chart, the 50-period SMA is at $0.0299, and the 100-period at $0.0301, indicating a longer-term accumulation phase may be in progress.
MACD & RSI
The MACD crossed into positive territory during the overnight session and has remained above the signal line, supporting rising momentum. RSI bottomed near oversold territory at 30 before bouncing back to 55, suggesting a potential reversal may be in place.
Bollinger Bands
Volatility was low in the early session, with Bollinger Bands contracting. Price then moved into the upper band during the afternoon ET rally, indicating increased volatility and potential continuation into the next session.
Volume & Turnover
Volume spiked significantly during the afternoon and evening ET hours, coinciding with a 0.5% price increase. Notional turnover also rose, with no clear divergence between volume and price action. This supports the idea that the rally was driven by strong buying interest.
Fibonacci Retracements
On the 5-minute chart, the $0.0295 level acted as a strong 61.8% retracement during a downward leg. On the daily chart, $0.0312 represents a key 38.2% retracement level from the recent high, which could serve as a potential resistance ahead.
Price appears to be testing a new equilibrium in the $0.0308–$0.0312 range, with support at $0.0293 still intact. A breakout above $0.0312 could signal renewed bullish momentum, but traders should monitor volume and divergence in the next 24 hours for confirmation. The risk of a pullback into the $0.0295–$0.0298 range remains if buying pressure weakens.
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