Orchid Price Prediction for Today, July 23: OXT/USD Beats the Market with 11.68% Gains

Updated: 25 July 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The Orchid price prediction shows OXT as the best-performing coin today breaking to the upside to touch the daily high of $0.062.

Orchid Prediction Statistics Data:

Orchid price now – $0.055
Orchid market cap – $53.4 million
Orchid circulating supply – $962.6 million
Orchid total supply – $1 billion
Orchid Coinmarketcap ranking – #351

OXT/USD Market

Key Levels:

Resistance levels: $0.070, $0.075, $0.080

Support levels: $0.040, $0.035, $0.030

Orchid Price Prediction for Today, July 23: OXT/USD Beats the Market with 11.68% Gains — OXTUSD – Daily Chart

After OXT/USD touches the high at $0.062 on the daily chart, the coin needs to experience more breaks to the positive side. The Orchid price is seen posting gains of over 11% in the last 24 hours, trading above the 9-day and 21-day moving averages at $0.062 while the technical indicator Relative Strength Index moves to cross above the 60-level.

Orchid Price Prediction: Orchid (OXT) Could Target $0.065 Level

Looking at the daily chart, the Orchid price keeps retreating within the channel after touching the daily high of $0.062. The price is now roaming around the $0.055 level but if the market continues the surge and squeeze; the $0.065 resistance level is likely to surface in the next few positive moves. Meanwhile, the Orchid (OXT) might further look for higher price levels if the bulls continue to show commitment.

Moreover, the market is currently displaying a sign of subduing volatility with prices ready to cross above the upper boundary of the channel. However, with the look of things, traders can see that the trading volume is rising heavily. Therefore, if OXT/USD pair decides to stay under the control of the bulls, the price may spike to the potential resistance levels at $0.070, $0.075, and $0.080. But on the downside, any bearish movement toward the lower boundary of the channel could bring the price to the support levels of $0.040, $0.035, and $0.030 respectively.

When compares with Bitcoin, Orchid (OXT) crosses above the upper boundary of the channel for the price to reach the nearest resistance at 210 SAT. This resistance may be effectively exceeded and the price could eventually need to close above it, therefore, there might not be any reason to expect a long-term bullish reversal.

However, if the coin decides to face the south, it could refresh lows under 165 SAT and a possible bearish movement may likely meet the major support at 150 SAT before falling to 140 SAT and below while the buyers could push the market to the potential resistances at 230 SAT and above as the technical indicator Relative Strength Index (14) moves to cross above the 60-level.

Orchid Alternatives

The Orchid price is currently dealing with the bulls as the coin spikes above the upper boundary of the channel. However, OXT/USD has always sought to increase despite the pressure of the market. Though the crypto may be struggling with volatility, the market is likely to come out in the same way soon.

Nonetheless, Wall Street Memes have every chance of success in the long run. Its native token is required to access its meme-generation tool. Considering the quality and uniqueness of this token, many analysts believe that the $WSM token could witness significant demand in the coming years where almost $17m has been achieved in the presale.

Read more:

New OKX Listing - Wall Street Memes

Rating