Origin Protocol (OGN) surges 2.31% as bullish reversal looms

Origin Protocol (OGN) is exhibiting strong indications of a bullish reversal, as evidenced by a regular MACD divergence and volume accumulation. The token is currently trading at $0.068561, marking a 2.31% increase. This price movement suggests a potential 300% surge, with the possibility of retesting the $0.251 range in the coming months, according to analyst Javon Marks.

Historical data shows that OGN reached a peak of nearly $3.50 during the 2021 bull market. Following this high, the asset experienced intense selling pressure, leading to a prolonged downtrend characterized by lower highs and lower lows throughout 2022 and 2023. The descending trendline has consistently capped rally attempts, reinforcing bearish dominance. Trading volume spiked during the 2021 peak and sharp declines, indicating strong investor engagement during volatile periods.

OGN has established a solid support level at $0.05, with a lengthy consolidation period developing a strong structural foundation from late 2023 to early 2024. During this time, the momentum indicator produced several bullish divergence signals, suggesting a potential shift from a bearish to a bullish market direction. The momentum oscillator is currently around neutral, indicating a balanced battlefield between buyers and sellers. However, this equilibrium may not last long, as pressure is mounting near the long-term descending trendline. A clean break above this trendline could trigger explosive gains.

Origin Protocol is now trading just below critical resistance. A confirmed breakout above this trendline could send OGN soaring, with historical patterns supporting the possibility of exponential growth once key resistance gives way. Volume shows strong accumulation in the $0.05 to $0.15 zone, and volume expansion may validate the breakout. If this happens, price momentum could accelerate rapidly, potentially redefining Origin Protocol’s medium-term trajectory. Traders are closely watching for a decisive candle above resistance to confirm this bullish reversal.