Is OMG Ready for Testing Previous Highs?

  • 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
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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.  



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Pratik Chadhokar
Mr. 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 has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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