Origin Protocol (OGNUSDT) Market Overview

• Price surged 6.30% in 24 hours, breaking key resistance at 0.064 and forming a bullish engulfing pattern.
• High volatility observed in late-night trading with intraday swings of up to 0.0019 (3.0%) in 15-minute candles.
• Volume spiked to 433,040 at peak, confirming the move toward 0.0647 but failed to sustain it.
• RSI hit overbought territory in early morning, signaling potential short-term pullback risk.
• Bollinger Bands widened overnight, indicating heightened short-term uncertainty and market indecision.

Price and Volume Summary

Origin Protocol (OGNUSDT) opened at $0.0628 on 2025-08-09 12:00 ET and closed at $0.0621 on 2025-08-10 12:00 ET. The 24-hour range was $0.0615 to $0.0647. Total volume reached 4,945,464 units, with notional turnover of $309,841, reflecting a 7% drop in price despite heightened volume during the overnight session.

Structure and Formations

The 15-minute chart shows a strong bullish engulfing pattern at the 0.0643–0.0647 level, suggesting a potential reversal from bearish to bullish momentum. A long upper shadow appeared at the high of 0.0647 in the early morning, hinting at rejection. A bearish reversal is now forming near 0.0623–0.0625, with a potential test of key support at 0.0620.

Moving Averages and MACD

On the 15-minute chart, the price has dipped below both the 20-EMA and 50-EMA, signaling a near-term bearish bias. The MACD crossed below the signal line in early morning trading, suggesting weakening bullish momentum and a potential continuation of the pullback.

RSI and Bollinger Bands

The RSI reached 68 at its peak and has since declined to 48, indicating a possible retest of the 0.0625–0.0630 range. Bollinger Bands have widened significantly overnight, suggesting rising volatility and a period of consolidation may follow. Price appears to have tested the upper band near 0.0647 and is now retesting the lower band near 0.0620–0.0625.

Volume and Turnover

Volume peaked at 433,040 during the 05:15–05:30 ET session, aligning with the price rejection at 0.0647. However, turnover failed to confirm the bullish breakout, and volume has since declined as the price retraced. A divergence between price and turnover may suggest weakening conviction in the current rally.

Fibonacci Retracements

Fibonacci levels drawn from the 0.0615 low to the 0.0647 high show the current price near the 61.8% retracement level at 0.0625. A break below that could target 0.0620–0.0615, whereas a retest of the 38.2% level at 0.0636 could signal a potential short-term bullish bounce.

OGNUSDT may face near-term pressure as it tests key support levels, but a retest of 0.0640 could reignite buying interest. Traders should remain cautious of potential divergences in volume and momentum indicators.