Crypto Screener Forums Emerging markets – TA – Forecast OmiseGo (OMG) Forecast Technical Analysis

This topic contains 2 replies, has 2 voices, and was last updated by margincall margincall 10 months, 4 weeks ago.

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  • #1402
    MrHanna
    MrHanna
    Moderator

    This is the thread for analysis on the OmiseGo markets.

     

     

     

     

     

     

     



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  • #17595
    margincall
    margincall
    Keymaster

    Lets have a look at the OmiseGo markets versus Bitcoin and the US Dollar.

    OMG / BTC

    omgbtc market report 24 April 2018

    We can clearly see the buying momentum picking up at the start of April and currently found support around the 60 RSI.

    The PPO has fallen into the negative confirming that the bears are outperforming the bulls on the very near term, however this market action is quite normal after the market gained almost 60% in less than a month.

    We could see the OMG market do another leg up here against Bitcoin should the bulls recapture the 0.0018btc zone and recapture the momentum.

    Needless to say should the bulls fail to defend 0.0018 btc we will see a retest of 0.0017 btc – 0.0016 btc.

    OMG / USD

    omgusd market report 24 april 2018

    The strength versus the Bitcoin market is also reflecting versus the US Dollar with steady gains and a very nice bullish pennant on the 4hr candles.

    I would put the near term support around $14 and will reconsider my positions should we consolidate below this level.

    Resistance is between $16 – $17 and should we consolidate above this I would expect $20 to get tested soon.

     

    #1403
    MrHanna
    MrHanna
    Moderator

    Great chart formations on the OmiseGo markets.

    Buyers that would like to speculate on the OMG market will have to make p their minds soon.

    omg forecast Jan 2019
    We have a very nice bull flag forming here and we can see that the market has made a very nice cup on the 1 Day candles.

    These kind of situations usually lead to very nice breakout trades on the crypto markets.

    We can see the price moving between the support and resistance as it is correcting before the next move up.

    Unless we see some major BAD Fundamental News for OMG, this might be the last time see these prices.

    On the bear side should support fail we will most likely see a very nice bounce back into the support zone. Safe trades.

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