OGN is trading within a clear descending channel on the daily timeframe, maintaining the overall bearish structure. After a strong rejection from the channel resistance, price has pulled back into a key demand / retest zone around 0.023 ā 0.021, which aligns with Fibonacci support.
This area is now acting as a potential higher low zone, where buyers are attempting to step in after the recent move up.
Key levels to watch
ā¢ 0.023 ā 0.021: Retest / demand zone
ā¢ 0.0285 ā 0.0327: Resistance zone
ā¢ 0.0368: Major resistance above
ā¢ 0.018 ā 0.017: Breakdown level
ā¢ 0.013 ā 0.015: Lower channel support
Scenario outlook
ā¢ Bullish case:
If OGN holds this demand zone, it could form a higher low and push toward 0.028 ā 0.032, with potential continuation toward 0.036+ if momentum builds.
ā¢ Bearish case:
A breakdown below 0.018 would invalidate the recovery and likely send price toward the lower channel support near 0.013ā0.015.