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- OMG token is trading at $12.91, after recently making a new 52 weeks high of $14.38 with a 100% price boost.
- The coin is trading above 50,100 and 200 EMA in the weekly as well as the daily timeframe.
- The OMG/BTC pair is trading at 0.0002304 BTC with an intraday up move of 31.87%.
The weekly technical chart of the OMG Token price action forms a bullish trend with a breakout of the $11 level with a large-bodied green candlestick. The market capitalization of the coin is $1,791,759,273, with an intraday growth of 28.50%. OMG ranks #78, according to the current market capitalization.
The volume of (4.086M) forms an impressive volume bar in the daily timeframe. Investors can wait for such substantial volume bars near the pullback completion to pull up the price. Also, the sudden increase in buying pressure is loaded in OMG to drive its price to higher levels.
OMG ready to hit the clear road to the $18 mark
OMG token has formed a large-bodied bullish engulfing candlestick breaking out of the $11 level in the daily time frame. The pullback is expected to hit the $10.5 mark before the bulls take over again.
According to the price action, OMG’s critical support level is placed at $11.30 and $10.5. While on the flip side, if the price goes higher, the critical resistance level to look out for is $18.22.
Also, in the daily time frame, the OMG coin has formed a bullish engulfing candlestick pattern implying that the bulls are in the driving seat.
EMA (20,50,100,200) – OMG is trading above all the major EMAs in the daily timeframe.
20 EMA (RED) might provide support in the upcoming pullback. Also, in the weekly timeframe, the bullish crossover of 50 EMA (yellow) and 100 EMA (GREEN) indicates the streak of higher highs to continue.
Relative Strength Index(NEUTRAL) indicates reversal while trading flat at 74.10. However, OMG can observe a sharp fall in the upcoming trading session if pullback starts soon.
ADX (HIGH) indicates a start of trend momentum burst in the daily timeframe while trading at 31.62. The slope of the ADX is rising higher.
Conclusion – The breakout with the large-bodied candlestick indicates a trend starter. Investors can enter long after a pullback as the weekly time frame indicates the clear pathway to the $18 mark.
The pullback is expected to hit as low as the $10.55 mark. A boost in buying volume or a large green candle might indicate the end of the pullback.
Support – $11.3 and $10.55
Resistance – $18.22
