Hello everyone, lets take a quick look at OMG USD.
As you can see OMG is going into a uptrend and just broke our daily pivot (not on chart).
Looks like we're heading to 0.382 fibo retracement, which is around 20.50 level, and if we manage to break it, 23.50 should be a good take profit.
Take a brief look on the volume of the last red bars, high volume but, almost no effect, tiny bars with low range, lack of sellers? no supply?
Anyway, OMG is a quite reliable token with good fundamentals behind it, i dont think its any absurd if we manage to see OMG above 50 usd this year, so yes, a good hold.
A quick look on the indicators,
-MACD is goind to have a bullish cross, above the 0 level.
-RSI show that the buyers have strenght.
-On our wave volume indicator we can see the buyers have strenght, again.
-ADX is starting to lose momentum but still, DI+ show a bullish momentum.
Its important to say, as we all know, the criptocurrency market will mostly follow btc, so if btc for some reason dump again, omg will most likely follow it, however as i've said, its a good hold.
And regardless btc, our uptrend and 50ema should provide a good support level, if OMG break it, we might reach lower levels again, which will be very good for reload this token.
Good trades everyone.
This is NOT a trade signal and is just here for educational purposes.
As you can see OMG is going into a uptrend and just broke our daily pivot (not on chart).
Looks like we're heading to 0.382 fibo retracement, which is around 20.50 level, and if we manage to break it, 23.50 should be a good take profit.
Take a brief look on the volume of the last red bars, high volume but, almost no effect, tiny bars with low range, lack of sellers? no supply?
Anyway, OMG is a quite reliable token with good fundamentals behind it, i dont think its any absurd if we manage to see OMG above 50 usd this year, so yes, a good hold.
A quick look on the indicators,
-MACD is goind to have a bullish cross, above the 0 level.
-RSI show that the buyers have strenght.
-On our wave volume indicator we can see the buyers have strenght, again.
-ADX is starting to lose momentum but still, DI+ show a bullish momentum.
Its important to say, as we all know, the criptocurrency market will mostly follow btc, so if btc for some reason dump again, omg will most likely follow it, however as i've said, its a good hold.
And regardless btc, our uptrend and 50ema should provide a good support level, if OMG break it, we might reach lower levels again, which will be very good for reload this token.
Good trades everyone.
This is NOT a trade signal and is just here for educational purposes.
Note
OMGUSD is testing the uptrend right now. If the price reject it again we will reach our upper targets.
On the otherside, if OMG break the uptrend we still have our resistance and the 50 ema as support around 18 usd level.
A break below this level will take us for good reload and re-entry points.
Good night.
Note
The uptrend is broken, the 50ema and the fibo level are holding as support, for now.Note
The support is broken! Potencial bounce will be around 16~16.50 usd
Note
Update is live
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.