OAX BTC OAX Technical Analysis

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By Frans van Elst

OAX logo In this OAX technical analysis, we will examine the current price action, trading volume, key levels and indicators for OAX-BTC. OAX is a decentralized exchange (DEX) built on the Ethereum blockchain that enables users to trade digital assets in a trustless and permissionless manner. It utilizes a novel consensus algorithm called “proof of burn” to ensure the security and integrity of its network, and it has gained popularity among cryptocurrency enthusiasts for its fast execution times and low fees. Additionally, OAX has been designed with interoperability in mind, allowing users to trade assets from various blockchain networks within a single platform.

OAX Price Overview:

As of May 22, 2024, OAX is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for OAX-BTC:

Anticipate potential setbacks for OAX (OAXBTC) at 3.29e-06 BTC through bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.0
High (H) 0.0
Low (L) 0.0
Close (C) 0.0
Volume (C) 262,031.00
  • Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
  • High (H): OAX reached a daily high of around 0.0 BTC.
  • Low (L): The daily low for OAX-BTC was approximately 0.0 BTC.
  • Close (C): At the time of analysis, OAX is trading near its daily close of 0.0 BTC.
Metric Value
1D Change (%) 1.23%
3D Change (%) -4.91%
7D Change (%) 0.61%
30D Change (%) -7.58%
90D Change (%) 5.79%
YTD Change (%) -15.64%

Over the past three days, OAXBTC has decreased by approximately -4.91%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.61%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with OAXBTC maintaining a downward trend of approximately -7.58%, despite intermittent fluctuations. Examining the last 90 days, OAXBTC has witnessed substantial rise of approximately 5.79%, reflecting strong long-term confidence. Year-to-date, OAXBTC has steadily dropped by around -15.64%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

OAX Live Chart:

You can access a live price chart for OAX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.86197.
  • Momentum score is -0.06.

OAX BTC Technical Analysis

OAX Trading Volume:

The trading volume for OAX (OAX) over the past 24 hours has been insignificant, with approximately 262,031.00 BTC traded against OAX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): OAX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): OAX is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for OAX-BTC is currently in the neutral zone, around 48.43581. This suggests that OAX is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

OAX (OAX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Anticipate potential setbacks for OAX (OAXBTC) at 3.29e-06 BTC through bearish technical analysis, emphasizing weakened support and cautionary indicators.

For a deeper dive into the subject, don’t miss our comprehensive analysis on OAX USDT OAX Technical Analysis if you found this post intriguing.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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