The Future of Intelligent Blockchain Applications (But is Now the Time to Buy?)

This groundbreaking platform empowers developers to create intelligent applications with advanced functionalities like price prediction and sentiment analysis.

But with the recent price pullback, is this a buying opportunity, or should you wait for a deeper retracement?

Dive deeper into todays report to uncover:

• A detailed analysis of Oraichain's technology and its potential to disrupt various industries.

• A technical breakdown of ORAI's price action, including key support and resistance levels.

• Our strategic entry point based on a combination of technical indicators and volume profile analysis.

Keep reading to uncover the hidden opportunities within Oraichain and discover why now could be the perfect time to invest.

ORAICHAIN - Bridging the Gap Between AI and Blockchain

Current smart contracts are limited in their ability to directly leverage AI models. Oraichain acts as a bridge, allowing smart contracts to securely access and utilize reliable external AI data through AI APIs. This opens up a new frontier for developers, enabling smart contracts to perform complex tasks and make data-driven decisions.

ORAI Oracle: More Than Just Data

ORAI takes oracle functionality a step further by seamlessly integrating high-quality AI models into smart contracts. This is achieved through a unique three-pronged approach:

• AI-Centric Design: Move beyond basic data feeds. Oraichain empowers developers to leverage advanced AI functionalities, such as price prediction and sentiment analysis, directly within their smart contracts.

• Rigorous Testing with Test Cases: Data quality is paramount. Oraichain uniquely incorporates test cases into every user request. AI providers must successfully complete these tests to receive payment, guaranteeing the reliability and accuracy of the AI models powering smart contract execution.

• Validator Oversight Network: A robust validator network acts as a gatekeeper, managing test cases and overseeing the overall quality of AI models within the ecosystem. This multi-layered approach fosters trust and discourages the inclusion of low-quality models.

ORAI System Overview: Secure and Scalable

Oraichain goes beyond just delivering AI data for smart contracts; it offers a secure and scalable system built with Cosmos SDK and Tendermint BFT. Here's how it works:

• Validators: Stake ORAI tokens and earn rewards for securing the network and validating AI data using test cases. Users can delegate tokens to validators and share rewards.

• Requesting AI Data: Users or smart contracts call an oracle script specifying data needs, tests, and fees. A random validator is chosen to retrieve and test the data before storing it on the blockchain.

• Ensuring Quality: Unlike others, Oraichain uses test cases to ensure AI API quality. Users and providers can contribute test cases, creating a community-driven reputation system.

This secure, community-driven approach unlocks the immense potential of AI-powered smart contracts, ushering in a new era of intelligent blockchain applications.

🏵️ A Flourishing Ecosystem

Oraichain offers a comprehensive suite of features and functionalities that cater to both developers and users:

• Enhanced Speed and Accessibility: Built for speed, Oraichain boasts faster transaction confirmation times compared to traditional blockchains. Additionally, its public blockchain fosters wider adoption due to its accessibility.
  

• Interoperable Future: Oraichain prioritizes interoperability, connecting effortlessly with leading blockchains like Ethereum, Binance Smart Chain (BSC), Cosmos, Polygon, Polkadot, and Kusama. This unlocks a vast and diverse ecosystem for potential applications.
  

• AI Marketplace: The centerpiece of Oraichain's ecosystem is the AI Marketplace. This user-friendly platform empowers AI providers to directly host their models, eliminating the need for intermediaries. This fosters a level playing field, allowing smaller players to compete effectively in a transparent and secure environment.
  

• Staking & Earnings: Network security is maintained by validators who stake ORAI tokens. Users can delegate their tokens to validators and share in the rewards, but with the responsibility to actively monitor validator performance.
  

• OraiDEX: Expanding Functionality: OraiDEX, a decentralized exchange built on Oraichain, offers users a comprehensive set of functionalities, including cross-chain token bridging, token swapping, and NFT bridging.

Oraichain's unique capabilities open doors to a multitude of groundbreaking use cases across various industries.

Oraichain's groundbreaking capabilities have the potential to send its price into a parabolic trajectory.

We'll delve deeper into the specific factors that could fuel this growth later in this report.

🤔 Use Cases

Oraichain simplifies yield trading complexity by integrating AI-based price prediction APIs into smart contracts, offering two key functionalities:

• Earn: Users automate buy/sell decisions based on Oraichain's price predictions, maximizing returns with the best-performing AI APIs.

• Vaults: Automated trading scripts identify optimal AI inputs through Oraichain's oracles, maximizing yield within user-deposited tokens.

While AI-based trading may not always surpass crowdsourced strategies, it potentially offers superior risk management by removing human emotions from buy/sell decisions.

Flexible Smart Contracts and Secure Face Authentication:

Face authentication enhances smart contract capabilities by offering:

• Account access with facial recognition instead of private keys.

• Token withdrawals to registered wallets verified through facial scans.

• Enhanced security by combining private keys with facial scans for smart contract execution.

Although face authentication may entail slightly more risk than private keys, it significantly improves user experience for actions like balance checks and wallet withdrawals.

Combating Misinformation with Decentralized Fake News Detection:

Oraichain empowers applications to verify news credibility by offering a decentralized marketplace for combining results from multiple providers. Payment is contingent on passing Oraichain's test cases, ensuring reliable service.

Exploring Future Applications

Oraichain's potential extends to various domains, including:

• Supply Chain Integrity: Smart contracts verify product authenticity to combat counterfeiting.

• AI-powered Lending: Credit scores automate loan decisions through smart contracts.

• Dynamic Game Economies: In-game items are automatically priced based on characteristics and properties.

• Automated Diagnostics: AI-powered marketplaces provide automated analysis for X-rays, spam filtering, handwriting recognition, and ID card verification.

Oraichain leads the way in innovation, shaping a future driven by secure and intelligent blockchain applications.

💹 Tokenomics

Oraichain's ORAI token fuels a long-term staking-based economy with real-world use cases:

• Limited Supply: Unlike some competitors, Oraichain has a limited total supply of 19 million tokens, with only 16 million currently in circulation. This controlled issuance strategy focuses on long-term value.

• Staking Rewards: Network security relies on validators who stake ORAI. Block rewards are distributed to validators and their delegators, incentivizing participation and securing the network.

• Transaction-Based Inflation: New ORAI tokens are created only when transactions occur, linking inflation directly to network usage. This discourages excessive token creation and fosters a healthy network economy.

• Diverse Products & Services: Oraichain offers a growing range of products and services, from AI marketplaces to anti-fraud solutions. This broadens potential use cases and increases demand for ORAI.

• Frictionless Payments: The ultimate vision is seamless ORAI integration within services, allowing users to pay for AI functionalities without even realizing they're interacting with blockchain.

Oraichain's tokenomics prioritize long-term network growth and value creation through staking incentives, controlled token issuance, and a diverse range of real-world use cases.

Weekly Price action

Looking at the weekly chart above you can see we have met resistance at approximately $20

This resistance point isn’t even at 23.6% retracement to the upside as seen below

This suggests that this pull back was caused by the broader macro environment which makes sense as Bitcoin has recently retraced after making its latest All time high (ATH).

So this gives us confidence that we will technically move back up into the previous highs of above 23.6% retracement to the upside.

Now that we know this, we can look to enter at a healthy retracement level. A healthy treatment often times is a 50% retracement from the last trend.

The last trend is between 11th of September 2023 and 11th of March 2024, so a 50% retracement of that range is at $11.27 as seen below.

Next to further confirm our hypothesis lets look at our Volume profile to find out where most of the trading has occurred year to date.

As you can see below most trading as occurred between $5.8 and $7.7. With a lack of trading between $13.00 and $9.60

This gap is confirms our hypothesis of at least a 50% retracement. Thus, this is our Area of Interest.

We can expect the market to be supported at approximately $9.6 as most people are long below this point.

Momentum Indicators

Next we must check the heart beat of ORAI, that is its momentum.

As you can see below from the RSI and the William % R momentum indicators, we are currently topping out on the Weekly.

Meaning we are in overbought conditions. Which suggests Bulls should Cool their jets as a retracement is likely.

However we are not seeing Bearish Divergences as such lets zoom into the Daily Chart.

Daily Price action

On the daily we are seeing clear signs of bearish divergence. See below

This confirms our hypothesis that we will be getting a healthy retracement to approximately 50%.

So where are we looking to re-enter?

We are going to implement a dollar cost average approach during this retracement

The reason why we are taking this approach is we are implementing an algorithm that predicts pivot levels.

Our algorithm is expecting the pivot to occur at approximately $11.50 as seen below depicted by the yellow line.

This is added confluence as we have our 50% retracement level as well as our Volume profile Area of Interest, see below.

We hope this has been informative. Please let us know your thoughts.

Happy trading 👋 

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.