In this OAX technical analysis, we will examine the current price action, trading volume, key levels and indicators for OAX-USDT. OAX is a decentralized exchange (DEX) built on the Ethereum blockchain that enables users to trade a wide range of assets, including tokens, smart contracts, and NFTs. It utilizes a novel liquidity pool system to provide liquidity for trading pairs, ensuring that there is always enough liquidity to facilitate trades. Additionally, OAX features a unique governance mechanism that allows holders of its native token (OAX) to participate in the decision-making process and shape the future of the platform.
OAX Price Overview:
As of July 02, 2024, OAX is trading at approximately 0.1694 USDT. Let’s dive into the detailed price action for OAX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.1687 |
| High (H) | 0.1746 |
| Low (L) | 0.1681 |
| Close (C) | 0.1694 |
| Volume (C) | 1,999,229.00 |
- Open (O): The opening price for today’s trading session was approximately 0.1687 USDT.
- High (H): OAX reached a daily high of around 0.1746 USDT.
- Low (L): The daily low for OAX-USDT was approximately 0.1681 USDT.
- Close (C): At the time of analysis, OAX is trading near its daily close of 0.1694 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.36% |
| 3D Change (%) | -0.18% |
| 7D Change (%) | -4.62% |
| 30D Change (%) | -24.10% |
| 90D Change (%) | -24.21% |
| YTD Change (%) | 2.54% |
Over the past three days, OAXUSDT has fallen by approximately -0.18%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -4.62%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with OAXUSDT maintaining a downward trend of approximately -24.10%, despite intermittent fluctuations. Examining the last 90 days, OAXUSDT has witnessed substantial drop of approximately -24.21%, reflecting strong long-term confidence. Year-to-date, OAXUSDT has steadily appreciated by around 2.54%, 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-USDT 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 0.67339.
- Momentum score is -0.17406.
OAX USDT Technical Analysis
OAX Trading Volume:
The trading volume for OAX (OAX) over the past 24 hours has been insignificant, with approximately 1,999,229.00 USDT 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-USDT is currently in the low zone, around 42.96021. This suggests that OAX is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
OAX (OAX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate challenges in realm of OAX (OAXUSDT) at 1.69e-01 USDT with technical analysis pointing to bearish outlook and potential downturns.
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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.