What’s going on with OG’s sharp decline? Over the past 4 days, it has fallen more than 50%, and this wave has already caused bloodshed.



Since OG broke below the $11 key support level, the entire trend has accelerated downward. From a technical perspective, once that support level was breached, it often signaled the start of a bearish phase. Now the price is stuck around $4.4, and more painfully — there are no signs of a stop-loss or reversal yet.

So the question is: Can OG rebound? Based on the current trend, it’s unlikely to see a clear reversal signal in the short term. Of course, the crypto market is highly unpredictable, and no one can say for sure. But at least for now, the technical signals are still indicating weakness.
OG-0.67%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Repost
  • Share
Comment
Add a comment
Add a comment
retroactive_airdrop
· 01-09 02:53
Another coin has gone into ICU. Once it broke $11, there was no hope left. I've seen this pattern too many times.

It's still going to fall below $4.4; let's wait and see next week.

Losing the support level is a death signal. Don't wait for a rebound.

How are there still people asking if it can rebound... How long will it take to recover?

It got hammered out again and is bleeding. I really can't take it anymore.
View OriginalReply0
GateUser-a606bf0c
· 01-07 05:31
This time OG is really crashing hard; not even holding 4.4 indicates that the bottom is still far away.
View OriginalReply0
ZKSherlock
· 01-06 04:52
actually... so everyone's talking about support levels breaking down like it's some kind of deterministic proof, but has anyone considered what *really* drives these price movements? the "technical signals" narrative is just pattern-matching over noisy data tbh. anyway, $4.4 does look pretty rough, ngl.
Reply0
SchrodingerAirdrop
· 01-06 04:51
I directly said it, this wave of OG shows no signs of stopping the bleeding, I can't understand what will happen next.

---

A 50% drop in four days? It's bloody, I can't stand to watch.

---

$11 broke and started to slide, now stuck at $4.4, it feels like it’s not over yet.

---

Rebound? Short-term, I think it's wishful thinking; the technicals are still in a broken state.

---

This wave of OG is really tragic, even at $4.4 it still feels like there's no bottom.

---

Once the support level breaks, you know trouble is coming; the bears are about to strike.

---

Can someone tell me when this will stop bleeding? I can't see a way out.

---

The crypto market is really unpredictable, but the momentum of this wave of OG is indeed not great.

---

A 50% decline, brother, describing it as a bloodbath is no exaggeration.

---

Short-term reversal signals? I can't see any; it's still weak.
View OriginalReply0
CryptoHistoryClass
· 01-06 04:41
*checks notes* ah yes, the classic $11 support level collapse... literally the same playbook as $LUNA's death spiral in 2022. statistically speaking, once you break that first major support, you're looking at capitulation phase territory. history doesn't repeat but it definitely rhymes when retail panic sells into oblivion.
Reply0
hodl_therapist
· 01-06 04:39
Oh no, dropping from $11 straight down to $4.4, this wave is really impressive...

I don't understand, just last week someone was still praising OG's fundamentals, and now it's halved?

Short-term rebound? Wake up, with this technical situation, don't even think about it. The next support level might be in the distant future.

Another coin I added to my blacklist, I don't dare to touch it anymore.

Blood flowing like a river is right, that's exactly the color of my wallet right now.
View OriginalReply0
  • Pin