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OMG Price Technical Analysis: Bulls next target is at $5.000

  • The token has a 24 hours trading volume of 205,041,305 and the rise of 8.36% was seen.
  • The Three inside down pattern was seen in the last 24 hours whereas bullish engulfing in one hour timeframe.
  • The token’s RSI oscillator shows the BUY.
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The token has been running well below its 200 days moving average and above its 50 DMA. The token has volume/market cap of 0.3076 and its market dominance is 0.05%. The chart above shows the movement of the token with trendlines and the circles marked at points shows where the breakout has taken place and is taking place. As we see the pattern in the end of May showed the hike in price and so marked the level of 8.000 as high. The downtrend had started since then and later the price hiking was seen but much lesser than the previous one. 

However the same continues and fall in price was seen and the circle marked shows the price hike after fall. Then the same pattern occurred followed by the rise in price. The token has been increasing now and the bullish sentiments are now leading. The gradual fall in price took the token from 8.000 to 2.8936. 

The token-BTC pair is trailing at the price level of 0.0001359 and the gain by 6.55% was seen whereas the token-ETH pair is trailing at the level of 0.00207 with the rise by 3.70% in the last 24 hours. The coin has been showing the percentage change by 0.66 since yesterday’s open.

RSI indicates BUY

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The token has the running above SMA-20 but below to SMA-200. The chart above shows that the token’s running with respect to SMA-20, 50 and 200. RSI oscillator is also present which shows the fine time to buy or sell the token. RSI for the last 5 hours shows the value of 63.615 and marks the buy action. MA-5, MA-10 and MA-20 show the same buy action. Bull/Bear power is 0.4182 shows the same buy action. The average returns on an average for the month of June is 15-20%.

Conclusion: The token has the days range of 4.4013-4.8757 and presently running at 4.5549. If the expected returns are attained then do the sell action or after the first dip is visible do the necessary action as the downtrend could start anytime. If you wish to buy the token then short term trading is effective now. Purchasing in the long term would be beneficial if you buy when the downtrend starts.

Technical Instruments:

Pivot: 4.6732

R-1: 4.7074

R-2: 4.7285

S-1: 4.6390

S-2: 4.6179

(Note- The unit is USD)