OGNUSDT Market Overview: Bullish Momentum and Volatility Spikes

• Price surged from $0.0638 to $0.0653 amid strong afternoon buying.
• RSI hit 65, suggesting moderate bullish momentum.
• Bollinger Band expansion indicates increased volatility.
• 15-minute volume spiked in the 14:00–16:00 ET range.
• Key resistance appears near $0.0656 and support at $0.0642.

Origin Protocol/Tether USDt (OGNUSDT) opened at $0.0642 (12:00 ET-1), hit a high of $0.0653, a low of $0.0638, and closed at $0.0653 as of 12:00 ET. Total volume reached 6.03 million, while turnover stood at $393,865. The pair showed strong afternoon and early evening buying pressure amid increased volatility.

Structure & Formations

The 24-hour chart displays a series of bullish reversal patterns including a morning star and a bullish engulfing candle around 11:45–12:00 ET. Key support levels appear at $0.0642 and $0.0639, with resistance forming at $0.0653 and $0.0656. A notable 15-minute doji emerged near $0.0648 around 02:30 ET, indicating a brief pause in the upward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in bullish alignment, with the price above both. On the daily chart, the 50-period MA appears to be a minor support level, while the 200-period MA remains a significant long-term barrier to bearish movement. The 100-period MA also shows a recent flattening, suggesting potential consolidation ahead.

MACD & RSI

The 15-minute MACD is in positive territory with a narrowing histogram, indicating momentum may be peaking. The RSI reached 65 in the late morning session, reflecting moderate overbought conditions, though not extreme. A pullback below 55 could signal a short-term correction. The MACD crossover in the morning session confirmed the bullish breakout.

Bollinger Bands

The Bollinger Bands have widened significantly during the afternoon and evening hours, indicating heightened volatility. Price action has remained above the mid-band and near the upper band, especially in the last four hours, suggesting continuation of the bullish trend. A retest of the mid-band could signal a potential pullback.

Volume & Turnover

Volume spiked dramatically in the 14:00–16:00 ET period, reaching peaks of over 138k in a single 15-minute interval. Turnover followed a similar pattern, with notable spikes coinciding with key price breaks and consolidations. Divergence between volume and price is minimal, indicating solid price action confirmation.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart show 0.382 and 0.618 retracements at $0.0648 and $0.0653 respectively, aligning closely with recent price action. On the daily chart, the 0.618 level is near $0.0639, which may serve as a critical support zone for the next 24 hours.

Backtest Hypothesis

The backtesting strategy described in the input involves a long-biased approach triggered by a bullish engulfing pattern on the 15-minute chart, confirmed by a close above the 50-period moving average. Stop-loss is placed at the 38.2% Fibonacci retracement level, and the target is set at the 61.8% level. Given the recent price structure and volume dynamics, this strategy would have captured the afternoon rally, with a strong probability of success if the current trend continues. The MACD crossover and RSI readings further validate the setup, making it a high-probability trade for aggressive traders.