Everyone is asking why has OmiseGO grown so fast last past days with no news.
Well news are two:
1. OmiseGO at current marketcap is undervalued compared to other cryptos as it's an easy top 8 project. This means a 8 - 12 Billion marketcap. I see price growing from 5x to 7x from where we are now. 2. Technical Analysis. OmiseGO has been correcting since last months and bottomed at 5.5.
At 5.5 all indicators turned bullish as we can see from the different pairs:
Lets start from OMG/USD: Price bounced at historical support, drawing higher highs and higher lows. At the moment we are facing upper channel resistance
OMG/BTC: Looking at the chart below we can see a Bullish divergence:
Definition of Bullish divergence: We have a bullish divergence when the price makes lower bottoms on the chart, while your indicator (MACD in this case) is giving you higher bottoms. After a bullish divergence pattern, we are likely to see a rapid price increase.
Nevertheless we have broke daily MA50 and price eyes next resistance daily MA100
OMG/ETH: Looking at the chart below we can see a Bullish divergence and a double bottom:
Price broke daily MA50 and is facing resistance of daily MA100
These are all reversal signals that a trader must recognize.
Targets:
Based on what written above about marketcap. I consider OmiseGO an easy top 8 project. In terms of price this would mean a 5x to 7x.
Comment
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OMG eyes last resistance at daily MA100 before a new impulsive wave.
1]OMG has been following the market with the BTC crash. I feel like we are at the bottom at present and the worst is over. alts are starting to recover.
2] Some tweets by Jun about DPoS coming next year are promoting buy volume as people aim to stock up on OMG with the aim of running a masternode. The minimum requirement is unlikely to be below 1000, which means those interested will possibly cause a noticeable increase in buyvol.
You have done such a great job at explaining the details of your findings with such depth. Much appreciated from a new persons perspective. Thank you for your insights!
IamCryptoWolf
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@ThelemaAZF, thanks
aWElyzian
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thoughts on OMISEGO following ethereums price path?
Could we see $800+ end of 2018
IamCryptoWolf
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@aWElyzian, honestly i don't know and nobody can now.
Bjornp79
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@IamCryptoWolf, Maybe in time as the data shows up you will know :)
Thank you for your analys. Almost got a friend to get OMG but shes sooooooooo afraid, already missed out on 100% gains in a week. Still trying though...
Bjornp79
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@IamCryptoWolf, Thank you again. She got in with an ok investment. Small but enough to celebrate this New Years in style! :-)
RealMcafee
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great explanation, thanks
b_fairheart
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You really see the omg/eth ratio going to 0.09 - 0.1?
1]OMG has been following the market with the BTC crash. I feel like we are at the bottom at present and the worst is over. alts are starting to recover.
2] Some tweets by Jun about DPoS coming next year are promoting buy volume as people aim to stock up on OMG with the aim of running a masternode. The minimum requirement is unlikely to be below 1000, which means those interested will possibly cause a noticeable increase in buyvol.