Orchid Price Prediction for Today, May 5 – OXT Technical Analysis

The Orchid price prediction could set a bullish run if the market can keep the coin above the resistance level of $0.105.

Orchid Prediction Statistics Data:

• Orchid price now – $0.103
• Orchid market cap – $101.3 million
• Orchid circulating supply – $979.7 million
• Orchid total supply – $1 billion
• Orchid Coinmarketcap ranking – #440

OXT/USD Market

Key Levels:

Resistance levels: $0.150, $0.170, $0.190

Support levels: $0.050, $0.030, $0.010

OXT/USD is running a little retracement move above $0.103 with a price growth of 3.16%. As the coin is recording some gain, the Orchid price may create additional gains within the channel if it crosses above the 9-day and 21-day moving averages. Meanwhile, traders can expect the price to continue to rise if the bulls put more pressure on the market.

Orchid Price Prediction: Orchid (OXT) May Move Upside

The Orchid price hovers within the 9-day and 21-day moving averages of around $0.103. However, if the price begins to create a bullish movement, traders can then expect a bullish continuation toward the upper boundary of the channel. Nevertheless, as the 9-day MA moves to cross above the 21-day MA, the possible resistance levels could be found at $0.150, $0.170, and $0.190 in the long term.

However, if the coin follows the bullish movement for the next few days, traders may witness more of it reaching higher levels. Moreover, the Orchid price is trying to create a bullish movement in the short term. On the contrary, any bearish movement toward the south could roll the coin back to the long-term support at $0.050, $0.030, and $0.010 levels.

OXT/BTC Faces the Downtrend

Against Bitcoin, Orchid continues to follow the bearish movement, sliding below the 9-day and 21-day moving averages. However, with the look of things, there is a need for an increasing volume and resistance to cause an upsurge in the market.  Currently, Orchid (OXT) is trading around the 162 SAT. Therefore, traders can expect close support at 130 SAT and below.

However, if a bullish move pushes the price above the moving averages; traders can confirm a bull run for the coin. The closest resistance could then be located at 200 SAT and above as the buyers prepare to step into the market, suggesting a bullish movement.

On that note, @OldMannCrypto shared insights with his extensive following of 152.8k on X (Formerly Twitter), forecasting a significant breakout on the horizon for $OXT. He advises traders to seize the opportunity and secure positions at 0.1035, suggesting potential for substantial gains.

$Oxt

Big breakout is coming

Buy some spot at 0.1035 pic.twitter.com/EOJ8jsjpIb

— Old Man Crypto (@OldMannCrypto) May 4, 2024

Orchid Alternatives

The Orchid price is nearing $0.105 resistance and may see bullish movement if it crosses above moving averages. OXT/USD could reach $0.120 with increased bullish pressure. Despite Orchid’s large market cap, it remains of interest to traders. Meanwhile, Dogeverse offers flexibility, allowing users to choose chains based on cost and speed, having raised over $13 million in its presale, enticing traders to consider investments.

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