OriginTrail Breaks Resistance Line, Price Surges 15% Amid Bullish Crossover

OriginTrail's price has surged by 15% in recent hours, reaching a new high not seen since June. This rally comes after a structural breakout from a descending resistance line on the chart.

The 20 and 50-day simple moving averages (SMAs) are about to form a bullish crossover, which historically precedes a rally. The Balance of Power (BOP) indicator has also shown a surge, with a reading of 0.35 on its daily timeframe chart. This suggests that buyers still have the upper hand in the market.

Moreover, there's been a significant increase in trading volume, with TRAC's trading volume rising by 580% over the last 24 hours. Approximately $35 million worth of the asset has been traded during this period. If this trend continues, it's likely that TRAC will experience further price gains.

Community sentiment also supports a bullish outlook for OriginTrail. According to CoinMarketCap, 83% of traders expect TRAC to maintain its momentum. However, it's worth noting that the BOP reading has declined by nearly half compared to its peak on August 21st.