OmiseGO (OMG) Prone To Significant Price Fall

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • OMG prices are having a hard time as bulls are completely diminished from their side and there is a major dominance of bears in the market.
  • Cryptocurrency suffering hard due to the negative market factors.
  • OMG/BTC pair showing complete negative signs and there is a loss of -3.39% bringing the level to 0.00008153.

OMG prices are having a tough time right now. The prices tried their best to climb up but the crucial resistance level of $0.600 turned this rise into a significant downfall which is continuously falling to the lowest level.

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OMG prices broke down the support level of $0.480 which was the key figure to its recent climb. Now it is really a tough task for upcoming price levels to prevent this fall.

The current market factors led to OMG’s current market capital to $66,4469,841USD with volume traded of $135,819,629 USD and a circulative supply of 140,245,398 OMG.

OMG
Source:tradingview

There is a sudden downfall in the prices of the altcoin as bears took full control of it, ready to lead prices lowest limits. Bulls are struggling a lot to maintain their presence but they are failing.

OmiseGo Price Analysis

The technical indicators and oscillators are showing an increase in selling volume due to the market condition. This could serve hard at the prices of alt as it is struggling hard to maintain its pact with bulls.

The MACD levels showing that there is a dominance of selling volume as bulls are now in charge. OmiseGo prices are struggling a lot, as all factors are against altcoin.

The 24hr-RSI fall down to the bearish zone due to an increase in the selling volume of the cryptocurrency.

The 24hr-CCI went down to the depth of the overselling region and started trading them.

Resistance Level $0.490
Support Level $0.470

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