Is OMG Ready for Testing Previous Highs?

Pratik Chadhokar
Pratik Chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.
  • The coin traded flat on the 24 hours chart, however, gained 12% over the week and currently trading at $3.70
  • The indicators are in the favor of the price to regain its high
  • The altcoin is in strong momentum and trading with respect to support and resistance from the bottom 
Source: Tradingview

The 4-hours chart indicates an uptrend from a previous low of $2.55 to a high of $4.40. The coin is currently trading at the level of $3.70 and has shown signs of consolidation at the range of $3.50 to $3.95 as the support and resistance for the short term range respectively. The coin`s market cap was at $521,695,063 and the volume traded in 24-Hours is $172,552,011, however, the crypto market was up by 1.15% on Monday after the bullish move over the global market rebound. 

The coin has shown a bullish move after making the low of $2.55 on the monthly chart and continuously in an uptrend. The indicator also supports the crypto asset for this movement.  

Source: Tradingview

MACD gives multiple signs over the chart as the positive crossover is expected in the coming trading session and the coin aiming the level of $4.00 and a bullish movement is expected in the coin after the positive crossover.

Source: Tradingview

Likewise, RSI was around the level of 50 which indicates the crypto asset in the neutral zone with the support of the global market the altcoin shows a bullish movement from this price. However, the RSI was in the oversold zone and after the bounce back it jumped to the overbought zone and currently at the neutral zone.  

RESISTANCE LEVEL: $3.95

SUPPORT LEVEL: $3.45

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