ORN USDT Orion Protocol Technical Analysis

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By Frans van Elst

Orion Protocol logo In this Orion Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for ORN-USDT. Orion Protocol is a decentralized platform that enables interoperability between different blockchain networks, allowing for seamless communication and asset transfer between diverse ecosystems. ORN is the native cryptocurrency of the Orion Protocol, serving as a facilitator of cross-chain transactions and providing access to a wide range of decentralized applications (dApps) within the Orion network. With its innovative approach to interoperability, Orion Protocol has the potential to revolutionize the way we interact with various blockchain ecosystems, opening up new possibilities for users and developers alike.

Orion Protocol Price Overview:

As of May 20, 2024, Orion Protocol is trading at approximately 1.3879 USDT. Let’s dive into the detailed price action for ORN-USDT:

Delve into potential challenges for Orion Protocol (ORNUSDT) at 1.39 USDT, guided by bearish technical analysis emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 1.3395
High (H) 1.4021
Low (L) 1.3073
Close (C) 1.3879
Volume (C) 569,361.90
  • Open (O): The opening price for today’s trading session was approximately 1.3395 USDT.
  • High (H): Orion Protocol reached a daily high of around 1.4021 USDT.
  • Low (L): The daily low for ORN-USDT was approximately 1.3073 USDT.
  • Close (C): At the time of analysis, Orion Protocol is trading near its daily close of 1.3879 USDT.
Metric Value
1D Change (%) 3.72%
3D Change (%) 0.03%
7D Change (%) 6.30%
30D Change (%) -13.62%
90D Change (%) -16.43%
YTD Change (%) 62.06%

Over the past three days, ORNUSDT has risen by approximately 0.03%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 6.30%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ORNUSDT maintaining a downward trend of approximately -13.62%, despite intermittent fluctuations. Examining the last 90 days, ORNUSDT has witnessed substantial fall of approximately -16.43%, reflecting strong long-term confidence. Year-to-date, ORNUSDT has steadily increased by around 62.06%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Orion Protocol Live Chart:

You can access a live price chart for ORN-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 0.76184.
  • Momentum score is -0.18094.

ORN USDT Technical Analysis

Orion Protocol Trading Volume:

The trading volume for Orion Protocol (ORN) over the past 24 hours has been insignificant, with approximately 569,361.90 USDT traded against ORN. 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): ORN is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Orion Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for ORN-USDT is currently in the neutral zone, around 45.23768. This suggests that Orion Protocol is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Orion Protocol (ORN-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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Delve into potential challenges for Orion Protocol (ORNUSDT) at 1.39 USDT, guided by bearish technical analysis emphasizing weakened support and cautionary indicators.

Explore more with our thorough insights on ORN BTC Orion Protocol Technical Analysis — an essential read if you enjoyed the content of this post.

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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