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OG / TetherUS

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OGUSDT trade ideas

OG Analysis: Critical Levels UnveiledThe OG/USDT pair has seen a significant change in the past 24 hours, with a 30% increase in value. This has led to the current price being 7.950. However, the Relative Strength Index (RSI) sitting at 65 indicates that the asset is getting closer to being overbought. That means, the asset is starting to look a bit pricey and could potentially face a price correction soon. The Fibonacci levels are key to understanding the support and resistance levels. The current price is just above the 0.5 Fibonacci level at 7.84, which could indicate a strong support level if the price maintains above this point. The Bollinger Bands give us another layer of understanding. The middle band, currently at 7.025, is serving as a strong support level as the price is above it. The upper band at 9.079, on the other hand, is a potential resistance level for the asset to overcome. The Stochastic Oscillator value at 53 and the MACD at 0.473 suggest that the market sentiment is neutral with a slight tilt toward the buyers. This suggests a balanced market with a mild bullish sentiment. However, the volume oscillator is currently negative at -11%, while the On-Balance-Volume (OBV) is at 72M. This shows that even though trading volume has decreased, the demand for the asset still remains high, indicating a potential continuation of the upward trend. The Exponential Moving Average (EMA) at 7.030 is another support level that can potentially provide a buffer for any price drops. This level, along with the middle Bollinger band and 0.5 Fibonacci level, forms a robust support system for the asset. Lastly, the 24-hour high and low values provide the extreme price levels that the asset has experienced in the last day. These values can serve as significant psychological levels of resistance and support respectively. In summary, the key support levels are the middle Bollinger band (7.025), the EMA (7.030), and the 0.5 Fibonacci level (7.84). On the other hand, the resistance levels to keep an eye on are the upper Bollinger band (9.079) and the 24-hour high (9.679). This layered understanding of support and resistance levels will be crucial in making informed trading decisions.
by ShawnMCR
3
🔥 OG Optimal Fibonacci Reversal: 20%-40% Gain PotentialOG was a major winner at the start of April, where it made a 6x in a matter of a few days. Since then, this token has been trading highly volatile and giving ample of opportunities to traders. After failing to make a new high on 23-04, OG has been in a selling-only mode. Going long here will most likely result in a losing trade. However, a strong short-term bearish trend after a pump like this gives us opportunities to scout for an oversold bounce. I'm waiting for two things: - The price reaches oversold on the RSI on either the 4H or 8H timeframe. - The price reaches the yellow area around the 0.618 Fibonacci retracement, which is also a major support. The above will give us traders an edge. Looking at the 0.5 (20%) and 0.382 (40%) Fibonacci retracements for potential targets.
Long
by FieryTrading
4
🔥 OG Falling Wedge Break Out After +400% PumpOG saw a huge move last week where it gained more than 400% in less than two days. Since that time, OG has been steadily selling off and lost over half of its value. However, OG has been making a falling wedge pattern during that fall. With both BTC and ETH seeing incredible gains, it's in my eyes a matter of time before we get some kind of pump on OG. We're currently in the process of breaking out of the falling wedge (a bullish reversal pattern). In case we can close the current hourly candle above the pattern's resistance, I'm aiming for the targets in blue. OG is a highly volatile token at the moment, be aware.
Long
by FieryTrading
7