- 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.
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.
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.
OMG Price Prediction: Will OMG Network Price Moon-Shot to $25 by 2021?
Cryptocurrencies have seen immense growth in the ongoing year, one of the unique projects intended to resolve the glitches related to payment processors and financial institutions is being OMG network.
There are numerous cryptocurrencies that surged to claim new ATH with a terrific bull rally. In contrast, few crypto projects faced a steep fall. As the market is highly volatile, it is mandatory to have a thorough knowledge of the asset before jumping into an investment!
OMG network has seen so many ups and downs over the past three years! If you are eager to invest in this protocol, then don’t dwell on widespread speculations. This OMG Price Prediction article will thoroughly guide you about altcoin’s brief fundamental analysis, short-term and long-term price predictions.
|Circulating Supply.||140,245,398.25 OMG|
|All-time high.||$25.72 on 13th January 2018.|
|All-time low.||$0.4653, 12th December 2020.|
What is the OMG Network (OMG)?
OMG network built on ERC-20 token in order to facilitate a Layer-2 scaling solution for Ethereum. The non-custodial protocol was previously named as OmiseGo. The core goal of the platform is to affirm a high-transaction throughput at a reliable price. The network has its own native utility token called OMG The token can be used as a payment solution for fees on its platform and users could use the token to earn rewards by staking.
However, the network makes use of a distinct scaling solution called MoreViable Plasma, which is integrated with the plasma sidechain method of architecture. Which categorizes several transactions off-chain into a pack that can then be confirmed as one transaction on the Ethereum blockchain.
While the OMG network has been deployed to boost the Ethereum ecosystem by resolving the glitches related to transaction speed and fees. Moreover, the sidechain solution would help in bringing down electricity usage by almost 99%.
Fundamental Analysis of the OMG Network:
The OMG Network has been founded by Vansa Chatikavanij in 2017. The tech firm is based out in Thailand, previously recognized as Omise Holdings. Prior to becoming CEO of the network, the founder has completed his master’s graduation from Columbia University in earth and environmental sciences in New york. He has previously accumulated knowledge in working with financial institutions such as the World Bank and International Finance Corporation (IFC).
Meanwhile, the founder worked as managing director at the company until 2019. The present COO of the network is Stephen McNamara, who served at Huawei technologies as a former head of Blockchain R&D strategy. Whereas Kasima Tharnpipitchai is working as a CTO of the OMG network.
OMG network released the Proof-of-Concept consensus mechanism in January 2018, which is built as an early version of its Plasma-based sidechain. Alpha launch of the OMG platform in 2019 called Ari ensured the more tech-savvy iteration of the protocol in contrast to its Minimum Viable Plasma predecessor. Furthermore, the OMG network launched a test net version of its platform on a Ropsten environment in March 2020. However, in the same month, the network released its mainnet version OMG Network V.01.
OMG Price Prediction 2021
The price has started moving in an upward trajectory from early January. The OMG price went on to claim a series of higher lows for three consecutive months. Initially, the price climbed to $6.5 by surging more than 100% in January. Later with a short breather, it broke a crucial resistance of $9.6 reaching $14 by mid-May.
Later, the price action was hit hard by the Chinese market crash on May 19th. Where the price has declined by more than 200% reaching bottom support of $3.17 on 20th July.
OMG Price Prediction for Q4: The protocol escalated in an uptrend in a tight parallel channel until September 25th reaching $8.2. Then it broke the channel with the commencement of Q4, surging to $16.49. With certain fluctuations, the price then claimed $21 on 5th November 2021. The introduction of the US infrastructure bill appears to have impacted the OMG price earlier this week, where the price has undergone a pathetic dip to $10.58 at the press time.
In case of extreme bullish sentiments, the price would move up to $21.52 in the upcoming bull cycle. The price might flip to $8.27 if bears dominate the space. However, with average buy and sell pressures the price would end up trading at $16.25 by the year’s end.
OMG Price Prediction 2022:
OMG might commence the next year with a maximum price of above $20. On a bullish note, the OMG price is expected to hit $28.45 by mid-May and might continue to hold the strength for several months. The price would potentially end up trading at $39.45 by the end of 2022. The probable financial crisis or regulatory compliance would abruptly impact the price to dip at around $15.26. With substantial buy and sell pressures, the price would claim $26.56 by the end of the year.
OMG Coin Price Prediction After 5 Years:
In 5 years, OMG’s price would continue to surge and it may break all its previous price records by claiming newer milestones. OMG Network has plans to introduce new services to its trading and once it completely transforms into a Proof-of-Stake (PoS) consensus mechanism, it would claim a value well above $50. On the flip side, the price would experience a steep fall up to $31.52. However, it has the potential to end up trading at $38 by the end of the next 5 years.
OMG Market Prediction:
As per the revised prediction of walletinvestor, OMG is forecasted to hit a maximum price of $15.505, minimum it would flip to $9.427 The token is expected to trade at an average price of $12.455. Walletinvestor anticipates OMG to trade at an average price of $40.187. And maximum price expected is $43.364, minimum it would plunge back to $37.191 by 2025.
According to DigitalCoinPrice, OMG will soar to reach a price close to $16.31 by the end of 2021. The price is expected to hit $31.77 by the end of 2025.
Gov. capital has changed their prediction for the OMG price, they expect the protocol to hit a maximum of $12.85. On the contrary, they believe, trend reversals in the market would plummet the price to $9.50. And with average buy and sell pressures it would end up trading at $11.17 by the end of 2021. The website has also made a whopping prediction in the long term, they expect the price to surge maximum of $233.32. The average and minimum probabilities is being $202.8 and $172.45 respectively by the end of 2025.
The OMG price has shown rapid volatility since the start of the year. With substantial fluctuations, OMG might claim $18.9 by the end of 2021. The price may increase if the company announces any new improvements. It might be a good investment in the long term perspective. OMG price might hit $35.45 incoming 2-3 years and eventually surge towards $50 by the end of 2025.
Year Potential High Potential Low 2021 $18.9. $6.4. 2022 $31.2. $14.56. 2025 $50. $26.55.
OMG Historical Market sentiments:
The price has achieved magnificent profits during the very beginning of its commencement. Being support Ether blockchain, OMG price has moved in pace with ETH price and claimed an ATH of $25.72 on 13th January 2018. With rapid volatility, the price ends up trading at $1 by the year’s end.
2019 and 2020:
With no significant collaborations and upgrades, the OMG price hovered between $0.7 to $1.2 throughout the year 2019. The network has succeeded in regaining strength in the year 2020. With a launch of V1 Mainnet Beta in June, the price has strongly attempted to claim $8. Yet failed to gain the expected profits as the project has ended up trading at $3.21.
Is The OMG Network (OMG) a good investment?
Based on the data, it can be predicted quite risky to invest in the OMG price in short term. With proper analysis of trends, the users could earn good profits.
How high may The OMG network (OMG) price hit by the end of 2025?
The OMG network (OMG) has a solid potential to reach new ATH’s as it has plans to shift to PoS soon. According to proponents and experts, OMG’s price can hit the $34-$38 mark by the end of 2025.
Where Can You Buy OMG token?
The OMG protocol is available to trade on major crypto exchanges like Binance, Huobi Global, FTX, KuCoin, etc.
Will The OMG network hit $25 by the end of the year 2021?
If the current bullish trend continues and if the network executes updates and partnerships as per the plan, OMG’s price might claim $25 by year’s end.
OMG price analysis: OMG Network below 14.7 resistance, what’s next?
- 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.
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.
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.
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.
OMG Network price analysis: Price surmounts $12.89 peak after groundbreaking recovery
- 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.
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.
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.
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.