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- OMG price jumped from $6.85 to $8.74 on Monday’s trading session
- The 24-hour volume in OMG is at $641,280,489 with a 3.97% decrease
- The OMG/BTC pair was trading at 0.0001543 BTC with a gain of 9.59%
The 4-hour technical chart of the OMG price forecasts a positive trend. According to pivot points, OMG’s critical support level is placed at $6.85. Whereas if it moves up, the key resistance to watch is $11.30. While diving into the weekly chart of a 4-hour time frame, it completes a three white soldiers candlestick pattern representing bullish reversal with medium reliability.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) is below EMA-13,21 (green, yellow), which projects a negative trend for a short while. The price is below 55-EMA (red). Investors may perceive a negative crossover in the EMA, and the price will also follow the negative trend.
RSI indicator (BEARISH), with a value of 47.18, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 31 to 47 in the index, which may surge in future trading sessions.
The volume of (51.52K) represents a low buying volume below the Volume MA (92.19K) of 20-days. High buying pressure is required in OMG to drive its price to higher levels.
OMG Price Action Marching Towards 11.30
OMG Price traded at $8.66 with a gain of 9.30% in the last 24-hour and 7.75% down in the weekly time frame. Furthermore, OMG bounced from the support of $6.85. In contrast, the market capitalization stands at $1.23 billion. Technically, investors can perceive a negative crossover in the EMA for a short while, and the price is below the 55-EMA. RSI index showcases an upward slope. Moreover, the price movement can be towards the resistance of $11.30 in future trading sessions.
Resistance: $11.30
Support: $6.85
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
