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OMGUSD

OMG/USD Seeking Higher Support Following A 225% Rally In 7 Days OMG Network is among the most improved cryptocurrency assets in the month of August. OMG rallies 225% in a week but it is miles away from hitting its all-time high around $29. OMG Network has become the cryptocurrency of the week following a massive rally that seems unstoppable. In the last 24 hours alone, OMG has increased in value by more than 78% to record a monthly high around $6.6. According to the data provided by CoinMarketCap, the crypto asset has rallied 225% in the last 24 hours. Before the breakout, the price was stable in a range between $1.00 and $2.00. The lock-step trading in this range was seen to dominate the months of June following a reversal from pa sharp spike to $4.45 and July. Although August commenced trading in the same range, the price action quickly turned ballistic in the second week. At the time of writing, OMG Network is trading at $6.28. The prevailing price comes after a minor retreat from highs at $6.60. Meanwhile, buyers seem to be building on the bullish momentum and more rapid price actions are expected in the coming sessions, especially the weekend. According to the shorty term technical picture, OMG/USD is poised for takeoff to higher levels. For instance, the Moving Average Convergence Divergence (MACD) is currently hitting highs around 0.45. In addition, there is a bullish divergence above the MACD (0.0059) that reinforced the impact the bulls have on the price. The bullish trend is also illustrated by the Relative Strength Index (RSI). The indicator seems to have embraced support at 70. The continued upward movement hints that OMG is entire in the hands of the bulls. OMG Network Intraday Levels Spot rate: $6.21 Relative Change: 0.48 Percentage change: 8.02% on the day. Trend: Bullish Volatility: Expanding
OLong
by CoinGape
3
Here We omiseGO Again! Why Buy High?#OMGUSD has gone vertical, following along with the recent surge in capital flowing back into alt coins. As usual, there is hype everywhere, no different than when Bitcoin was pushing toward 20K back in 2017. Human nature is what drives ALL financial markets and it does not change. I write this to offer some technical perspective and clarity in order to help you make a more RATIONAL choice when you observe a chart that looks like this. (Have you seen Kodak stock?) The 3.00 area is a significant resistance that dates back to over a year (look back on your chart). Just like Bitcoin, the probability of selling activity is high here. The EFFECTIVE behavior here is to partial out of a winning position (if long from lower prices) and let a small portion run to see how far momentum can carry this thing. If you are not in, the LEAST effective behavior is to buy into this now, thinking it will run to 10, or some other number that the hypesters are hyping about. The herd is what drives the price, while the smart money (those who operate with some form of valuable information) capitalize on their reactions. Charts and technical analysis can provide ways to measure risk and prepare for higher probability opportunities IN ADVANCE. The low 2.00 area is the current support point that is in play. Meaning, IF price retraces from current levels, the most attractive location in terms of probability is this the 2.00 area. Smart money waits for these, and assume no risk in the process. If you are a new investor, and you find yourself consuming "news", "fundamental stories", and advice from inexperienced and self proclaimed authorities, you are much more likely to act irrationally. And it is this irrational behavior that drives the herd mentality. Learn to recognize the market from the behavior perspective. Charts serve only as a starting point.
BITFINEX:OMGUSD
by MarcPMarkets
15
Omisego: Inverse Head & Shoulders pattern on 1D ?Perhaps technical analysis is completely subjective and we see what we want to see based on our bias towards the markets and our own wishes. On this chart I am seeing an inverse head and shoulders pattern on the 1D time frame for OMG/USDT. Volume profile seems to support it despite being seemingly low. At the time the price action is retesting the neckline of the inverse head and shoulders patter. If this one plays out we could be looking at a target of at least $1.88 - $1.91. Time will tell. Also worth looking at the RSI which seems to have formed a similar pattern (more confirmation). Happy Trading.
OLong
by GhostCrypto