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OMG Network price analysis: Price surmounts $12.89 peak after groundbreaking recovery

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  • OMG Network price analysis confirms rise in price.
  • Price has moved up to the $14.35 level.
  • Further increase in price is highly expected.

The OMG Network price analysis shows the bulls have been able to surpass the resistance present at $12.89 level during the latest uptrend. The bulls are reigning the price charts as the price has increased tremendously during the day. Currently, it is settled on the $14.35 mark and is expected to heighten to an even higher level in the coming hours as well. The bullish momentum is to extend in the future as well as the hourly price chart is predicting an uptrend.

OMG/USD 1-day price chart: OMG price towers above $14 as a consequence of latest upturn

The 1-day price chart for OMG Network price analysis shows the price is rising quite steadily because of the constant increase in bullish momentum. It has successfully been able to breach past the former resistance level as well i.e. $12.89. Right now, the OMG/USD price value is $14.35 and is expected to increase during the approaching hours. The moving average (MA) value is standing low as compared to the current price i.e. $10.590. The SMA 20 curve is going higher as well because of the bullish trend.

OMG Network price analysis: Price surmounts $12.89 peak after groundbreaking recovery 1

The volatility has increased as well because of the expansion in Bollinger bands. As a result, the upper and lower Bollinger band values have been altered as now the upper value is at $12.89 while the lower value is at $6.722. The Relative Strength Index (RSI) has crossed the over bought limit to settle down at 75.27 score.

OMG Network price analysis: Bullish momentum takes flight above $14 breaking past the resistance point

The 4-hours OMG Network price analysis is showing signs of bullish activity taking place as the price has increased on a considerable level. The price is standing on the $14.33 mark at present, and is expected to move even higher in the upcoming time period. Other important indicators in the 4-hours price chart are the Moving Averages (MA) indicators and Bollinger bands indicators which are at $12.95 and $11.83 levels, respectively.

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OMG Network price analysis: Price surmounts $12.89 peak after groundbreaking recovery 2
OMG/USD 4-hours price chart. Source: TradingView

The volatility has increased in the last four hours, but the indicator is on the upwards breakout, hinting at brighter prospects for the future price movement. The upper value of the Bollinger bands Indicator has reached $14.31 while the lower value has reached $9.35. The RSI score is moving in the over bought range well as it has gone up to 78.09 during the day.

OMG Network price analysis: Price surmounts $12.89 peak after groundbreaking recovery 3
OMG/USD technical indicators chart. Source: TradingView

The technical indicators chart for OMG/USD is also going bullish because of the constant rise in price. The price has been maintaining stability which is why there are 16 indicators on the buying mark, 10 on the neutral mark and zero on the selling mark.

The Moving Averages Indicator is giving bullish signals as well as there are 14 indicators on the buying level, with only one on the neutral and zero on the selling levels. The Oscillators are confirming the rise in price and there are nine oscillators on the neutral position, two on the buying position and none present on the selling position.

OMG Network price analysis conclusion

The above 1-day as well as the 4-hours OMG Network price analysis is confirming that the bulls have been maintaining their lead quite successfully for the past few weeks. The price has increased today as well and is standing on the $14.35 position at the time of writing. Further chances of improvement are available as well which means that further rise in price can be expected, but after a correction which might soon take place.

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OMG price analysis: OMG Network below 14.7 resistance, what’s next?

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  • OMG price analysis is sideways for today, up by 0.3%.
  • The bulls have found resistance at the $14.7 price level.
  • The nearest support is present at $54k.

OMG price analysis is sideways with the highest price of $14.4 and the lowest price of $13.6 for today. The price action has been bearish in the short term on the daily chart, but we can expect bullish outcomes in the long term.

On the other hand, the data from CoinmarketCap suggests that the coin’s trading volume has surged by 86.25%, standing at 627 million USD, while the market capitalization of the token is up by 0.49% at 1.9 billion USD.

OMG price movement in recent days

The price of the OMG/USDT token for the month of October has been quite optimistic. The monthly candle is up by 11.11% for October, while the highest price for this month stood at 18.212.

On 29th September, a price surge of 15.88% was seen, followed by a 20.61% price surge on the very next day. Furthermore, the price rose by more than 21% on 2nd October, followed by 6.44% on 3rd October.

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OMG price analysis on the daily chart using technical indicators

The price action for the OMG/USDT trading pair is above the 50-day and 100-day Moving Averages, indicating that the price action is bullish overall.

A few days ago, we saw the price of the coin break out from the upper end of the Bollinger Bands, followed by a bearish trend in the short term on the 1-day chart.

OMG price analysis: OMG Network below 14.7 resistance, what's next? 1
OMG price analysis on the 1-day chart by TradingView

On the other hand, the RSI indicator reads a value slightly below the 60-level, indicating that the buying pressure is greater than the selling pressure. This means that we can expect higher prices in the future.

Furthermore, the MACD indicator represents a bearish crossover on the 1-hour chart a few days ago. Currently, the MACD line (the blue one) is accelerating below the signal line (the orange one), indicating bearish movement in the short term.

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OMG price analysis
OMG price analysis on the 1-day chart by TradingView

OMG price analysis: Conclusion

The OMG network allows users to allow the transfer of tokens based on the ERC20 network with great efficiency and faster rates. This is because it was built as a solution to Ethereum‘s scalability issue.

The long-term and short-term OMG price analysis is bullish as Bitcoin is trading above the $60k price level. Currently, the coin is down by 51.15% from its all-time high. If the bullish outburst for BTC continues, we can expect new all-time highs for altcoins like OMG too.

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OMG Network price analysis: OMG breaks above $14 barrier, as bullish momentum dominates

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  • OMG Network price analysis is giving bullish hints today.
  • The nearest resistance is found at $14.92.
  • The nearest support for OMG is found at $12.42.

The OMG Network price analysis is on the bullish side today. Bulls have taken the price up to $14.3 today, after a continuous decline for the past week, which was expected after hitting the all-time high at $16.6 on 4th October. Today OMG bulls swiftly broke the price above $14 resistance, now aiming for the next resistance at $14.9. On the contrary, support for OMG/USD pair is present at $12.4.

OMG/USD 1-day price chart: OMG price recovers till $14

The 1-day price chart for OMG Network price analysis shows the price had recovered well above $14 after yesterday’s plunge when the price stooped as low as $12.8. Currently, the OMG/USD pair is trading hands at $14.39 at the time of writing. The cryptocurrency had gained around 5.7 percent value during the last 24 hours but still reports a loss of nearly 16 percent over the course of the last seven days due to the downwards trend of the past week, when the OMG/USD went through significant loss. OMG/USD trading volume has also increased by 64 percent, and the market cap is also up by 5.6 percent.

OMG Network price analysis: OMG breaks above $14 barrier, as bullish momentum dominates 1

The OMG/USD is highly volatile at the present time as the Bollinger bands started diverging sharply on 29th September, and now the indicators have taken an upwards breakout, as the lower band is now converging more as compared to the upper band going further up. The mean average of the indicator provides support to the price as it moves upwards towards the moving average (MA). If the price takeover the MA level, then it will be a further bullish indication.

The relative strength index (RSI) is on a steep angle moving towards the overbought zone at index 60; though the RSI indicator is still in the neutral zone, it indicates the intensifying buying activity in the market, which is helping the price function in moving upwards.

OMG Network price analysis: Recent developments and further technical indications

The 4-hour price chart for OMG Network price analysis further confirms the bullish momentum. The first eight hours of today’s session proved worthy for the cryptocurrency value, as a steep increment in the price of OMG/USD was noted during the hours, but selling pressure kicked in when the price went near the upper limit of the Bollinger bands, and a reversal from $14.6 has been observed during the past few hours.

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OMG Network price analysis: OMG breaks above $14 barrier, as bullish momentum dominates 2
OMG/USD 4-hours price chart. Source: TradingView

As can be seen on the 4-hour price chart, the volatility has been comparatively low since 9th October, when the Bollinger bands converged closely. In the present circumstances, the upper band at $14.8 presents the resistance level for OMG/USD pair. In contrast, the mean average of the indicator at $13.9 presents the support.

The RSI is hovering at a score of 52, and the indicator’s curve is absolutely horizontal, indicating a competition between the two sides of the market, as the buying activity is canceling out the selling pressure.

Overall technical indicators support the bullish side of the market, with a majority of 14 indicators giving buy signals, including the Momentum and SMA20, while two technical indications are for selling off the OMG assets, including SMA10 and MACD oscillator indicator. However, 10 technical indicators stand neutral and do not side with either trend of the market.

OMG Network price analysis: Conclusion

The OMG Network price analysis reveals the OMG/USD pair price recovered well today after a downtrend for the past few days. The extremely high volatile situation of the cryptocurrency at the present time provides equal opportunity for the price to move in either direction, but if bulls consolidate enough to take the price above the MA level, then a further upside may follow. But if selling pressure persists, then the downside may extend to $13.5.

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OMG Network Price Analysis: If OMG Coin Slips Below $6.0, Downfall of 10% Can be Noticed

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Source: OMG/USDT on TradingView

The daily technical chart and price action of OMG coin display an upward trend. According to the pivot levels, the primary support level is $5.30. On the other side, if it rushes up, the resistance level to follow is $7. Although the chart forms a bearish harami candlestick pattern within the day, it is predicted that the price may remain upwards with medium reliability.

The Zig-Zag framed a top of $15.35 on May 07. After that, investors can notice a massive correction of 80%, all the way low to $2.89. Now price levels are sustaining around $6 this week. 

The volume of (1.732M) is below the MA of 20-days (7.426M). As a result, the volume is low, causing its price to struggle around the resistance zone. Investors may also mark that the volume bars on the chart are inclining, which intimates that notable volatility is expected in the upcoming trading session. 

The RSI indicator gave a (bearish) signal with 61.10, projecting a sell signal in the coin. Investors may observe a declining slope from 75 to 61. It may plunge towards negative territory in future trading sessions.

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OMG Coin Oscillators Signal Bearish Move

OMG Network’s price today is $6.44, and the 24-hour trading volume is $293,644,457. The price of OMG has increased by 7.9% in the past 24 hours. There are 140 million OMG coins in circulation, with a total of 140 million. The RSI indicator shows a sell signal, and the traders have guided low volume. Technically, the price sustains at the resistance zone and remains in an upward trend. Therefore, as with overall market sentiment, the trend remains bearish.

Resistance Level: $7.0

Support Level: $5.30

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