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OMG

LONG OMG/USDT - 45 min chart update - vol above avg bullish! LONG OMG/USDT - 45 min chart update - vol above avg bullish! - OMG Network is a Layer-2 scaling protocol for Ethereum. What this protocol aims to achieve is a higher transaction throughput at a lower cost while leveraging the security guarantees of its underlying layer. OMG Network is predicated on the creation of a child chain that batches transactions before committing them to the root chain, which, in this case, is Ethereum. The child chain relies on the root chain as the trust and arbitration layer. With this type of relationship, if something goes wrong with the child chain, users’ funds should remain safe. The protocol's token, OMG, is the primary method by which users can pay for transaction fees and interact with the network.
OLong
by HodlTradeCrypto
OMG on the verge of a technical breakout to $3.20 - $5.50OMG/USD recovers from support at $2.80 and ready to post gains towards $5.50. The OMG Network plugged massively like other major and minor coins in the cryptocurrency market. The decline swept widely across the digital assets recently. OMG succumbed to the increased selling pressure leading to significant sabotage to the progress made in August. From the high traded in August at $9.50, At the time of writing, the crypto is trading at $2.90.
KRAKEN:OMGUSDLong
by CeoCodes
7
Bullish pattern holding - next resistance levels to watch for*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. You should always do your own due diligence before trading or investing. *Follow me for the latest cryptocurrency analyses on my watchlist *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
OLong
by CryptoRush_
OMG in Review Good Morning to Those Who Sleep in Late Just a quick review of OMG on this Canadian Thanksgiving weekend. So it looks like we can casually see that OMG has been on a gradual upwards movement each 90 days showing a nice 30% price increase during these periods and the angle of assent has been a somewhat reserved 22%. I believe we can see OMG continuing this pattern until the end of this month and then we can continue chart to year end. The only thing we had to deal with was that rapid spike in price in Sept ( for no reason that I know of, although I haven't researched it) A spike like that is an anomaly and I don't take them into account when I am looking at a chart, because as you can see, they come back down just as fast as they went up. Straight up and then straight down is a "wash" in my books, so I ignored it and continued on after it came down to earth. Some traders like this type of action, as they can short the asset at the peak of the spike and buy back at the bottom, but all it does for me is to screw up my perception of an asset that is moving in a nice predictable upwards fashion. I think or hope OMG will continue to trade in a sideways pattern and we will write a nice 45% profit for this 3 month period. Hopefully we will see yet another upwards movement and this will add to our data to help confirm this upwards "step pattern" we have seen in the past. So in any event, if you have been holding OMG during this period you are "in the money" as they say. Above and beyond my two stable positions with BTC and ETH I hold a few positions in the more crazy market of ALT coins, that are in some way involved in addressing the ETH 2.0 problems. I happen to like LINK for this reason. In closing, I'm looking forward to reading more of your posts and I will be sure to include a reference to them in my future postings....good or bad. Have a pleasant day and it would be interesting to know where you are located in the world when you post because I enjoy many of the different perspectives from various cultures around the world. Ward Weaire Toronto, Canada Oct 12, 2020 6:52 AM
KRAKEN:OMGUSDLong
by WMWToronto
10
Omisego - Short Term Sell Stop.OmiseGO - Short Term - We look to Sell a break of 3.488 (stop at 3.652) Posted a bearish Flag formation. A break of 3.500 is needed to confirm the outlook. A break of yesterdays low would confirm bearish momentum. The bias is to break to the downside. We look to sell rallies. Expect trading to remain mixed and volatile. Our profit targets will be 3.028 and 2.961 Resistance: 3.650 / 3.820 / 4.000 Support: 3.500 / 3.250 / 3.000 Signal Centre
OShort
by Signal_Centre1
2
OMGUSD Wave 1 of Third Wave Primary Count + Invalidation LevelBINANCE:OMGUSD I am considering the March-August Rally as completion of Primary Wave 1, followed by a 74.71% Retracement ABC Correction to $2.4852 precisely, reaching just shy of the 78.6% Fibonacci Level. Considering OMG Rallied from $0.2972 up to $9.86, we have experienced a healthy correction. If in fact you only measure the retracement from March low to only using the real body close of rally with H4 chart($7.52) then we can measure a 67% retracement. However, I favor the wicking-off of the measurement(74.71%). In any case, a healthy correction...moving on; I feel that Wave Three has begun, and we are putting in the sub-division 4th-of-the-1st for Primary Wave 3, it is imperative that we do not retrace to the 61.8% Fibonacci Level. If OMG reaches the 61.8% Fib. Level($3.2317) it will then overlap the 1st Wave Sub-Division($3.28), and technically invalidate the Wave Count by just a marginal amount, but for purists, this is set in stone! At that point, we should consider the count arbitrary, and not purist by a fraction of $.05cents. Very Technical Argument! Also, the 50% Fib lines up neatly with the local trendline offering a confluence of local support! Perhaps the 61.8% is slightly front-run, to complete the local correction before resuming the upward momentum? I will continue to update OMG as it plays out! Previously, I had published an OMG chart that was flagged for removal, as it violated terms and conditions. I was ignorant of my promoting an off-site platform. In that publication I had noted that should OMG be in the count I think we are in, and with a Primary Wave Extension, I measure a standard 3 Wave Extension of 161.8%, using coordinates of March Low/August Swing High/September Pivot Low... The 161.8% Extension Target for Primary Wave 3 is..........wait for it; $17.90 Sorry if the linked idea is unavailable!
OLong
by TheFreeCryptoPress
10
Watch the reaction to this IMPORTANT support The current situation: 1. A descending triangle pattern is now more apparent with 53% chance of breaking upwards and the measured target is about 4.45 USD from the apex. But still, note that there is still a head and shoulders formation within the triangle, which is a predominantly bearish pattern. So far, the Fib level (gold line), 4 and 6HR 200MA have been acting as support but it was not strong enough to propel a break out to a new high. The 4HR 21MA is now approaching to the price action so in my opinion, the reaction to this moving average hitting the price action is very important since staying above the 21MA on a given timeframe is a bullish sign. The 4HR 21MA has also not been touched since the breakout back at 3.1 USD. 2. Do look out for possible bearish divergence from the last high created on the RSI, especially on the 1, 4 and 6HR harts as their last highs did create an overbought reading on the RSI. The bullish case: price action bounces off the 21MA and breaks the triangle. An hourly close above 4.25USD would convincingly invalidate the head and shoulders pattern to me. The bearish case: a close below the 21MA on the 4HR chart as the next level of support would be the downward-sloping 4HR 200MA currently at 3.75USD *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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by CryptoRush_
7