Long
OMG cryptocurrency outlook: Profitable trade ahead?
Updated
Hello everyone! Let's take a look at the OMG cryptocurrency and its prospects for the near future.
For over a year, the asset was in a global correction. In December 2022, a reversal movement of the asset began, with a subsequent increase in price and a breakthrough of the descending trend line at around $1.25.
Currently, the asset is in a local phase of correction and is approaching a local support zone, followed by an ascending trend line. In this area of approximately $1.4-1.46, you can look for an entry point with further position fixation in the Fibonacci zone of 0.236. The net profit when buying on the spot will be approximately 39%
It is also possible to expect an increase in price to the next Fibonacci level around 0.382, resulting in a total profit of approximately 109%.
This is not a financial recommendation, and everything you do, you do at your own risk.
For over a year, the asset was in a global correction. In December 2022, a reversal movement of the asset began, with a subsequent increase in price and a breakthrough of the descending trend line at around $1.25.
Currently, the asset is in a local phase of correction and is approaching a local support zone, followed by an ascending trend line. In this area of approximately $1.4-1.46, you can look for an entry point with further position fixation in the Fibonacci zone of 0.236. The net profit when buying on the spot will be approximately 39%
It is also possible to expect an increase in price to the next Fibonacci level around 0.382, resulting in a total profit of approximately 109%.
This is not a financial recommendation, and everything you do, you do at your own risk.
Note
Bounced from the support level
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