The Orchid price prediction suggests that OXT may continue to follow a bullish movement, despite recent price falls that impacted the market. Here’s a look at some of the data that back up this prediction. The current price of OXT stands at $0.099, with a market cap of $97.4 million and a circulating supply of 979.3 million. The total supply of OXT is 1 billion, and its Coinmarketcap ranking is #361.
OXT/USD Market: An Analysis
The Orchid price is likely to maintain a gain above the 9-day and 21-day moving averages, as it faces the resistance level of $0.100. As of now, the price is recovering above $0.095, indicating a potential bullish movement towards the main resistance level at $0.110.
Orchid Price Prediction: The Road Ahead
On the daily chart, the Orchid price is hovering around the resistance level of $0.099, with the initial support likely located below the previous low at $0.092. If the coin breaks this level, the sell-off may begin, with the next focus at $0.090. Support levels could be found at $0.080, $0.075, and $0.070, if the downward momentum begins to snowball.
OXT/BTC May Head to the Upside: What It Means
Buyers are making an effort to step back into the market against Bitcoin, as the price of Orchid moves to cross above the upper boundary of the channel. If the price crosses this channel, the closest resistance level could be found at 260 SAT and above.
Alternatives to Orchid: Insights
Despite trading close to the resistance level of $0.100, Orchid’s price may continue to move upward if it maintains its position above the moving averages. Meanwhile, OXT/USD could reach the resistance level of $0.110, should the bulls increase the pressure.
Hot Take
Taking everything into account, the Orchid (OXT) is striving for more gains, ranking 361st in the crypto world, and is worth considering, despite its large market cap. However, you should also keep an eye on another impactful cryptocurrency, Bitcoin Minetrix (BTCMTX), which has nearly accumulated $5.8 million in its presale, as it integrates itself as a unique Bitcoin alternative.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.