The Orchid price prediction shows that OXT could renew the bullish trend after testing the support level of $0.068 today.

Orchid Prediction Statistics Data:

• Orchid price now – $0.068
• Orchid market cap – $67.1 million
• Orchid circulating supply – 962.6 million
• Orchid total supply – 1 billion
• Orchid Coinmarketcap ranking – #304

OXT/USD Market

Key Levels:

Resistance levels: $0.090, $0.100, $0.110

Support levels: $0.052, $0.042, $0.032

OXT/USD has been hovering around $0.068 after touching the daily high of $0.073. The Orchid price is likely to cross below the 9-day and 21-day moving averages with a loss of 1.46% in the past few hours. Despite the recovery, the coin is still hovering below the daily of $0.069.

Orchid Price Prediction: What Could Be the Next Direction for Orchid Price?

According to the daily chart, the Orchid price is moving toward the south and any further bearish movement could hit the nearest support at $0.065. The Orchid (OXT) hits the daily high at $0.073 before retreating to where it is currently trading. Looking at it from above, more bullish movements may come into play if the Orchid price heads toward the upper boundary of the channel, and the nearest resistance level could be found at $0.080.

However, traders can see that the daily movement remains in the hands of the bears but, a break into the positive side may most likely push the coin toward the potential resistance levels of $0.090, $0.100, and $0.110, while a drop below the lower boundary of the channel may lead to the supports of $0.052, $0.042, and $0.035 respectively.

OXT/BTC May Face the Upside

Against Bitcoin, the Orchid is seen moving sideways within the 9-day and 21-day moving averages. After the coin touched the daily high at 258 SAT today, the coin later retreated to where it is currently trading. Meanwhile, the price keeps moving sideways as the buyers may put pressure on the market.

Nevertheless, should the sellers return to the market, the Orchid price may drop to the support of 170 SAT and below. Now, the technical indicator shows that the market could face upward movement in the next positive direction as the resistance level could be located at 330 SAT and above.

Alternatives to Orchid

According to the daily chart, the Orchid price is currently hovering around $ 0.068, and the initial support could still be created below the previous low at $0.065. Once the coin eliminates this level, the sell-off may begin with the next focus on the $0.055 level. Therefore, if this support level drops further, the downward momentum could begin to snowball.

At this very moment, traders are closely watching an astonishing cryptocurrency that is gaining prominence. Bitcoin Minetrix (BTCMTX) stands out as a unique Bitcoin alternative, serving as a tokenized cloud mining platform to provide secure and transparent access to Bitcoin for ordinary individuals. Impressively, this token has gathered more than $38k in the presale as traders are encouraged to invest in the token.

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• Source: https://insidebitcoins.com/news/orchid-price-prediction-for-today-october-2-oxt-technical-analysis