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OMG Network Price Prediction: Bears Aim to Pull OMG Crypto at $1.0 Level

  • The OMG Network token is looking bearish at the $1.6 support level.
  • Trading volume is down 35% to $14.2 million in the last 24 hours.
  • The OMG/BTC pair price is down 1.2% at 0.000008859 Satoshi.

OMG Network (OMG) price is looking bearish as buyers struggle this week. At the time of writing, the OMG token is trading at the $1.7 mark against the USDT pair. The bears are selling the altcoin aggressively, as a result, the price has reached cheaper prices in the year of 2022.

Price action shows a low-high trend over the past several weeks. Amidst this trend, buyers have registered several strong attempts to reverse the trend, but they have failed so far. However, the bulls are still active despite the bearish market and they are attempting to accumulate OMG tokens near the 52-week low.

 In terms of the daily price scale, OMG Network price is trading below the significant moving average. Amid downtrend, the 100 EMA stood to be a key hedge zone of bears buyers may again see sell-off at this point. 

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The $1.6 level provides support and the $2.0 level acts as an immediate resistance resistance level. Trading volume has declined 35% in the last 24 hour at $14.2 Million. Moreover, the OMG/BTC pair price is down 1.2% at 0.00008859 satoshis.,

RSI Moves Towards Semi-line 

In terms of daily time frame, the RSI indicator is looking down below the semi-line (50 level), but RSI Peak makes a higher-low formation. Besides, the MACD is looking sideways in the negative region. 

Conclusion 

The OMG network token is sideways nowadays. Meanwhile, bears have several attempts to pump asset prices below the $1.4 support level. Below this key hedge zone, buyers may see steep decline until the $1.0-round level. 

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Support level – $1.4 and $1.0

Resistance level – $2.0 and $3.0

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing