In this Orchid Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for OXT-BTC. Orchid Protocol (OXT) is a decentralized privacy-preserving cryptocurrency that utilizes a novel proof-of-stake consensus algorithm to secure its network. OXT’s innovative design allows for enhanced security and scalability, making it an attractive option for users seeking a more private and secure digital asset. With Orchid Protocol, users can enjoy the benefits of decentralized finance (DeFi) while maintaining their financial privacy.
Orchid Protocol Price Overview:
As of May 11, 2024, Orchid Protocol is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for OXT-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 48,125.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): Orchid Protocol reached a daily high of around 0.0 BTC.
- Low (L): The daily low for OXT-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, Orchid Protocol is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.62% |
| 3D Change (%) | -3.01% |
| 7D Change (%) | 0.00% |
| 30D Change (%) | -17.01% |
| 90D Change (%) | -23.33% |
| YTD Change (%) | -37.84% |
Over the past three days, OXTBTC has decreased by approximately -3.01%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around 0.00%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with OXTBTC maintaining a downward trend of approximately -17.01%, despite intermittent fluctuations. Examining the last 90 days, OXTBTC has witnessed substantial drop of approximately -23.33%, reflecting strong long-term confidence. Year-to-date, OXTBTC has steadily declined by around -37.84%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Orchid Protocol Live Chart:
You can access a live price chart for OXT-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 0.27033.
- Momentum score is -0.08523.
OXT BTC Technical Analysis
Orchid Protocol Trading Volume:
The trading volume for Orchid Protocol (OXT) over the past 24 hours has been insignificant, with approximately 48,125.00 BTC traded against OXT. 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): OXT is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Orchid Protocol is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for OXT-BTC is currently in the low zone, around 39.9777. This suggests that Orchid Protocol is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Orchid Protocol (OXT-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 low RSI and insignificant trading volume are low signals for potential downward movement.
Acknowledge bearish outlook for Orchid Protocol (OXTBTC) at 1.61e-06 BTC with technical analysis, emphasizing weakened support and cautionary indicators.
Missing our detailed breakdown on OXT USDT Orchid Protocol Technical Analysis would be a lost opportunity if you found value in 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.