OXT Protocol Crypto Price Analysis

Orchid Protocol (OXT) Token is currently up 29% from the swing-low on the 18th of June following the crypto crash. Currently Orchid Protocol (OXT) Token is trading within a symmetrical triangle pattern.

So far July hasn’t been too bad for the cryptocurrency markets. Bitcoin is hovering around the $20,000 price levels and we’ve seen a lot of accumulation across all cryptocurrency classes.

Could this be the potential bottom for Orchid Protocol (OXT) Token?

Cryptoassets are a highly volatile unregulated investment product.

Orchid Protocol (OXT) Token Price Prediction 2022

So far Orchid Protocol (OXT) has corrected roughly 92% from it’s all time high of $1.04 which was set on the 5th April 2021. We are now trading around the $0.10 price level, the current low bear market prices could offer long-term investors a very good entry to start accumulating crypto today.

The technical price target upon breaking out of the symmetrical triangle pattern is roughly $0.12. This would result in an impulse to the upside of roughly 14%. Of course, the bearish scenario is that we lose support and perhaps print a swing-low back down to the $0.08 support level.

I personally think a major resistance and obstacle for OXT Token is going to be the $0.19 resistance level. If we are currently in an undervaluation zone for OXT, we should be able to gather enough momentum and see a bullish reversal and retest this resistance.

If we can break through the $0.19 resistance level, I would imagine that Orchid Protocol (OXT) Token will chop around the $0.20-$0.36 price levels during the bear markets whilst things are slow and boring.

OXT Protocol Crypto Double Bottom Pattern

Residing within the symmetrical triangle we can also see the formation of a double bottom within an ascending triangle pattern. This is typically known as a bullish reversal pattern. Considering these three bullish factors, I think it is more likely than not that we will see a pump to the upside soon.

Orchid Protocol (OXT) Token Video Analysis

As we can see from the above video analysis a majority of the positive price momentum has evolved from the bullish divergence and large amounts of accumulation around these lower levels.

According to Coinmarketcap Orchid Protocol (OXT) Token has a market capital of $72m and is now ranked #288 amongst other cryptocurrencies. The previous market capital all time high for Orchid Protocol (OXT) was $476m, a level I believe we will repossess during the next crypto bull market.

What is Orchid Protocol (OXT) Token?

Orchid (OXT) is known as the native token for Orchid Protocol. Orchid Protocol is a crypto-powered virtual private network (VPN).

The project is still quite young as it was launched in December 2019. This means the project existed for around 9 months before the crypto bull market of 2021 commenced. Orchid Protocol envisions itself as the world’s very first incentivized peer-to-peer privacy network.

Normal payments to providers occur off-chain. This allows Orchid Protocol to avoid the costly congestion and high network fees associated with the Ethereum network.

Orchid Protocol (OXT) will take a long time to see a full recovery, but with patience investors with a long term investment strategy could see strong returns by the next crypto bull run.

Cryptoassets are a highly volatile unregulated investment product.

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