Oraichain is the first blockchain oracle powered by AI. It aims to be the first AI Layer 1 with a complete AI ecosystem, enabling new smart contracts and Dapps. It has many products and services based on AI, such as AI price feeds, VRF, Data Hub, AI Marketplace, AI NFT, Royalty Protocol, Yield Aggregator Platform, and Cosmwasm IDE. The ORAI crypto has surged by more than 300% in the last year, indicating strong buyers’ presence. The max supply of this
cryptocurrency is 19.779M ORAI followed by a fully diluted market cap of $93.534M. The current circulating supply of the Oraichain is 62.24% of its max supply, which is 12.706M. Despite this, the trading volume of the same has declined by 0.91% in the last 24 hours. It indicates that there is no significant presence of traders in the crypto. The ORAI has a market cap dominance of 0.004% followed by a market cap of $72.115M. Moreover, the volume/market cap ratio of the crypto is 0.0201. Oraichain is built on the Ethereum blockchain and uses ERC20 token standards. The reported TVL of the ORAI is $7.3M resulting in an FDV/TVL ratio of 11.28. Moreover, looking at the charts it can be seen that the volume of the crypto is following a good trend and even the TVL is also advancing. This further follows an advance in the price of the ORAI crypto. The ORAI witnessed a huge sell-off over time. It has been consistently making lower lows on charts leading to a bearish break of structure. It further led to the formation of a falling wedge pattern and this token has lost its value by more than 95%. Moreover, the price has broken above the falling wedge pattern and is currently forming higher high swing levels. This behavior indicates a possibility of a strong uptrend in the future. The crucial EMAs such as the 20, 50, and 200-day EMAs all are following a strong uptrend on the charts with a golden cross. The ORAI trading price has also advanced above the EMAs indicating the strong presence of buyers in the market. The RSI is declining from the overbought levels, currently trading at 56.82. Despite the decline from the high of 84, the RSI value is still trading above the 50 level. Therefore, till the RSI sustains the following levels, we might get to see an advance in the price as it will result in an uptrend. The ORAI coin has shown a bullish trend,
BREAKING above a falling wedge pattern and gaining more than 95% since the recent low. It is also supported by the golden cross of the EMAs and the RSI indicator. Thus, the price of the crypto might continue the bullish momentum and lead to higher levels. The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.