$OMG/USDT 4h (#BinanceFutures) Descending trendline break retest

OMG Network has pulled back to 50MA support where we expect it to bounce towards 200MA resistance and continue inside the channel.

Current Price= 4.631
Buy Entry= 4.640 - 4.470
Take Profit= 5.247 | 5.744 | 6.441
Stop Loss= 4.085

Risk/Reward= 1:1.45 | 1:2.49 | 1:3.96
Expected Profit= +30.14% | +51.92% | +82.50%
Possible Loss= -20.84%

Fib. Retracement= 0.559 | 0.702 | 0.883
Margin Leverage= 2x
Estimated Gain-time= 2 weeks

Tags: #OMG #OMGUSDT #OmiseGo #PoA #OmgFoundation #BOBA #BobaNetwork #Layer2 #Scaling #DeFi #Payment

Websites: omg.network boba.network

Contract:
#ERC20 0xd26114cd6ee289accf82350c8d8487fedb8a0c07

Trade closed: target reached:

TP1 reached with +30.14% (2x) and +1.45R

Om gNetwork bounced on support and pushed higher, regaining 200MA!
Bullish continuation is likely, SL adjusted to lowest entry to secure the trade.