Summary
• Price drifted lower on heavy volume, breaking below key support near $0.0340.
• Bearish momentum confirmed by RSI and MACD divergence.
• Volatility expanded on 5-minute chart as Bollinger Bands widened.
• Ongoing breakdown into $0.0335–$0.0333 range signals potential for further declines.
At 12:00 ET on 2025-12-14, Origin Protocol/Tether (OGNUSDT) opened at $0.0342, hit a high of $0.0342, a low of $0.0330, and closed at $0.0332. Total 24-hour volume was 1,767,835.0 units, with a notional turnover of $60,549.41.
Structure & Formations
Price action shows a clear breakdown from the $0.0340 psychological and Fibonacci level, with bearish confirmation from a large bearish engulfing pattern at the $0.0340–$0.0337 level. The $0.0333–$0.0335 range appears to be the next key battleground, with support at $0.0334 and resistance at $0.0336. A potential bearish continuation may follow a confirmed break below $0.0334.
Moving Averages
On the 5-minute chart, the price is below the 20 and 50-period moving averages, reinforcing the bearish bias. Daily chart averages (50/100/200) are not currently relevant due to the sharp intra-day move.
MACD & RSI
The 5-minute MACD has crossed into negative territory with declining momentum, while the RSI is approaching oversold territory. A reading near 29 suggests that the sell-off could be exhausting, but given the volume and price confirmation, bears still control the narrative.
Bollinger Bands
Volatility has expanded significantly, with Bollinger Bands widening and price drifting lower within the bands. This suggests a continuation of the trend rather than a reversal unless price closes above the upper band in the next 24 hours.
Volume & Turnover
Volume spiked during the breakdown from $0.0340–$0.0337 and again during the move toward $0.0330, confirming the move lower. Turnover diverged slightly after the $0.0330 swing low, which may signal a pause in the bearish move or a consolidation phase.
Fibonacci Retracements
The 5-minute chart shows a key 61.8% retracement level at $0.0334, currently acting as a pivot. On the daily chart, the $0.0333–$0.0330 move is a critical Fibonacci extension that could test $0.0328 if not halted.
A potential test of the $0.0330 level may follow, with a possible bounce expected if it holds. Investors should watch for volume confirmation and price action at key Fibonacci levels. A reversal could materialize if bulls push back above $0.0334, but for now, bearish momentum remains intact.
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