- OGN broke a long-term downward trendline, supported by record-breaking trading volume.
- The breakout target is $2.6334, representing a potential 1,650% increase from current price levels.
- Sustained market activity is critical for OGN to maintain and reach its breakout target.
Origin Protocol (OGN) has recently seen record-breaking positive trading volume with the asset also breaking a resisting trend, with prices holding above the breakout level. This development could provide the foundation for a potential upward price movement. Analysts are focusing on a breakout target of $2.6334, which represents a climb of over 1,650%.
Record Trading Volume and Technical Breakout Holds Key Levels
According to a chart by Javon Marks, OGN’s price breaks from a downward trendline after a prolonged decline. Record-breaking trading volume supports the breakout, with a significant increase visible.
Source: Javon Marks(X)
The target price of $2.6334 is marked, indicating a potential rally. Current price levels remain above the broken resistance, sustaining momentum for upward movement. The volume increase signals heightened market activity and interest, often viewed as a key factor for supporting price movement.
The price breakout for OGN comes as the cryptocurrency sustains levels above previously resistant trends. Holding this position is seen as critical for maintaining upward momentum.
Traders and market participants have identified $2.6334 as a potential breakout target. Reaching this target would mark a remarkable increase of over 1,650% from its current levels, underscoring the potential scale of this movement.
OGN Early Stages of a Potential Rally
With prices stabilizing above the broken trendline, OGN may be in the early stages of a broader rally. The recent activity reflects increasing confidence among traders, as the positive volume and breakout confirmation suggest a shift in market dynamics.
Observers note that maintaining this momentum will depend on sustained trading interest and broader market conditions. The focus remains on OGN’s ability to build upon its breakout and approach the target of $2.6334.
