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Oriental Culture Holding Ltd. (NASDAQ: OCG) shares are rallying Thursday; the Hong Kong-based trading platform for collectibles is being viewed as a play on non-fungible tokens.
NFT-related stocks have been very volatile throughout the third week in March.
Oriental Culture Short-Term Chart Analysis: The 5-minute chart above shows some potentially key levels for the stock in the short term. The stock peaked Thursday morning at $17. This level may hold as a potential resistance in the future if the price is able to get that high again.
Another key level may occur near $12. The stock found support near $12 Thursday morning; if the price were to drop near $12, this level could potentially hold as a support.
The stock could find a bottom somewhere near the $10 level. This level held up as a resistance before the stock was able to break out and move well past this area.
Bulls would like to see the stock make a steady climb up to the resistance level before breaking above. After the break, bulls would like to see the stock consolidate before it another move higher.
Bears would like to see the stock fall first through the $12 level, and eventually also through the $10 level. If the stock is able to push below these levels and consolidate, the stock could make a further downward move.
OCG Price Action: Oriental Culture shares were up 1.7% at $10.78 at last check Thursday.
The stock is trading with a market cap of $190 million and a public float of 14 million.
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