OXT USDT Orchid Protocol Technical Analysis

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By Frans van Elst

Orchid Protocol logo In this Orchid Protocol technical analysis, we will examine the current price action, trading volume, key levels and indicators for OXT-USDT. Orchid Protocol (OXT) is a decentralized privacy-preserving cryptocurrency that utilizes a novel proof-of-stake consensus algorithm. OXT enables users to make secure and private transactions, while its unique multi-hop payment system allows for increased fungibility and anonymity. With Orchid Protocol, users can enjoy the benefits of decentralized finance (DeFi) without compromising on their privacy.

Orchid Protocol Price Overview:

As of May 17, 2024, Orchid Protocol is trading at approximately 0.098 USDT. Let’s dive into the detailed price action for OXT-USDT:

Consider bearish sentiment for Orchid Protocol (OXTUSDT) at 9.80e-02 USDT as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.

Metric Value
Open (O) 0.0958
High (H) 0.0987
Low (L) 0.0929
Close (C) 0.098
Volume (C) 40,315,763.00
  • Open (O): The opening price for today’s trading session was approximately 0.0958 USDT.
  • High (H): Orchid Protocol reached a daily high of around 0.0987 USDT.
  • Low (L): The daily low for OXT-USDT was approximately 0.0929 USDT.
  • Close (C): At the time of analysis, Orchid Protocol is trading near its daily close of 0.098 USDT.
Metric Value
1D Change (%) 2.19%
3D Change (%) 6.18%
7D Change (%) -0.41%
30D Change (%) -4.02%
90D Change (%) -15.15%
YTD Change (%) -10.99%

Over the past three days, OXTUSDT has increased by approximately 6.18%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -0.41%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with OXTUSDT maintaining a downward trend of approximately -4.02%, despite intermittent fluctuations. Examining the last 90 days, OXTUSDT has witnessed substantial decrease of approximately -15.15%, reflecting strong long-term confidence. Year-to-date, OXTUSDT has steadily dropped by around -10.99%, 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-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 0.53069.
  • Momentum score is -0.07721.

OXT USDT Technical Analysis

Orchid Protocol Trading Volume:

The trading volume for Orchid Protocol (OXT) over the past 24 hours has been significant, with approximately 40,315,763.00 USDT 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-USDT is currently in the low zone, around 43.63983. This suggests that Orchid Protocol is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Orchid Protocol (OXT-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 significant trading volume are low signals for potential downward movement.

Consider bearish sentiment for Orchid Protocol (OXTUSDT) at 9.80e-02 USDT as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.

Take your understanding to the next level with our extensive analysis of OXT BTC Orchid Protocol Technical Analysis; if you enjoyed this post, you’re in for a treat!

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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