InstaForex

July 22, 2021

Pergh! Looks like Orchid (OXT) is Giving a Positive Signal to Fly Away?

 Orchid, a cryptocurrency powered by virtual private network (VPN) technology, describes itself as the world's first incentive in peer-to-peer privacy networking.


Launched in December 2019 by Dr. Steven Waterhouse as CEO, Jay Freeman, Brian J.Fox and Gustav Simonsson.


Orchid’s goal is to overcome the limits of internet freedom by using cryptocurrency payments.


Uniquely, the idea behind Orchid is in terms of the use of blockchain technology to enhance the existing VPN experience.


By using cryptocurrency -based probabilistic nanopayments, users can benefit from the use of anonymous VPNs that do not rely on centralized servers and the risks associated with country -specific infrastructure.


Next, look at the current movement chart of the OXT/USDT price,



The OXT price movement has set a market record for 2021 by producing a jump of over 350% to record the latest all -time high (ATH) at the $ 1.02 price level on April 5.


From a technical point of view, the OXT price movement is giving a positive signal to obtain a bullish pattern, the RBS zone (resistance become support) around $ 0.23 is seen to have been successfully passed and is hovering above that level either to make a correction or continue to rise.


If the price movement continues to see an uptrend, the SBR (support become resistance) zone around $ 0.26 will be the next focus to be tested first before making a higher rise.


However, if the OXT price sees a bearish trend again, the price is seen to test the RBS zone (resistance become support) around $ 0.23 before heading to the support level that was recorded before.


At the time of writing, OXT/USDT is trading at $ 0.24 up over 4% in the last 24 hours. Coins are currently ranked 157th in the crypto market.