Technical Analysis
$OXT did a healthy retrace and found support. Stoch RSI showing oversold and MACD looks like it is about to make a push up. We'll see where this goes by the end of the day.
Fundamental Analysis
Orchid Protocol is backed by the largest VC in Silicon Valley Crypto space.
Orchid Protocol was founded by a great team
Gustav Simonsson - one of the core developers at Ethereum that focused on blockchain security and helped launch Ether
Jay Freeman - Software engineer and developer of Cydia software for jailbroken iOS devices
Dr. Steven R. Waterhouse - Led cryptocurrency investments at Pantera Capital
The market cap for Orchid Protocol is very small in comparison to the top 100 coins (based on market cap).
Orchid Protocol has a functioning application for a decentralized VPN, plans to release a windows version soon, and is part of a $27 billion VPN industry. The growth potential is high as it is not listed on all major exchanges. Binance and Orchid followed each other on Twitter recently and it is only a matter of time.
$OXT did a healthy retrace and found support. Stoch RSI showing oversold and MACD looks like it is about to make a push up. We'll see where this goes by the end of the day.
Fundamental Analysis
Orchid Protocol is backed by the largest VC in Silicon Valley Crypto space.
- a16z
- Sequoia Capital
- Polychain Capital
Orchid Protocol was founded by a great team
Gustav Simonsson - one of the core developers at Ethereum that focused on blockchain security and helped launch Ether
Jay Freeman - Software engineer and developer of Cydia software for jailbroken iOS devices
Dr. Steven R. Waterhouse - Led cryptocurrency investments at Pantera Capital
The market cap for Orchid Protocol is very small in comparison to the top 100 coins (based on market cap).
- $OXT current MC: ~$40 million
- 100th coin MC: ~$100 million
Orchid Protocol has a functioning application for a decentralized VPN, plans to release a windows version soon, and is part of a $27 billion VPN industry. The growth potential is high as it is not listed on all major exchanges. Binance and Orchid followed each other on Twitter recently and it is only a matter of time.
Comment:
Looks like we broke up on the descending wedge. We just need to hold above it.
Comment:
Bounced right off the support area, we're going to see if we can hold the reversal. I'd like to see three white soldiers for confirmation.
