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Will OMG Price Consolidation Ready For Next Lap of Bullish Move?

  • OMG price on the monthly chart is presently showcasing slight sideways momentum after a strong bullish rally.
  • The crypto asset is currently trading above all major moving averages of 20, 50, 100, and 200-day lines, with below-average volume activity.
  • The pair of OMG/BTC is trading at 0.0002299 BTC with an intraday dip of -3.31%, and the ratio of OMG/ETH is CMP at 0.003576 ETH with a 24-hour change of -3.96%.

OMG, price over the monthly chart is trading near its short-term moving average line of 20-day while still placed above all DMA lines. The digital asset is currently trading under slight pressure after a strong bullish rally from the lower levels. Meanwhile, the volume activity over the chart is lower and needs to improve strength to sustain above all DMA lines.

Supporting volume activity will boost more buyers in upcoming trading sessions once the coin manages to maintain above all its DMA lines. The overall long to medium-term trend is still favoring bulls. Support on the lower side is $12.75 and $11.10, whereas resistance on the higher side is $15.98 and $18.15. 

OMG price is trading slightly bearish, now heading towards the minor support zone

OMG price at the weekly chart is trading slightly bearish and now heading towards the minor support zone. Meanwhile, the technical parameters are also projecting slightly lower and now heading towards the lower zone. Volume over the 4-hour time frame also lowers and needs to improve above the average line. OMG price is trading at $13.98 with a minor intraday dip of -0.52%, and the volume to market cap ratio is 0.3028.  

Relative Strength Index (NEUTRAL): OMG price RSI is trading sideways after gradually recovering from the lower levels. In contrast, the coin is trading flat under the neutral zone and RSI at 44. 

Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is trying to suppress the seller’s line (red).     

Support levels: $12.75 and $11.10 

Resistance levels: $15.98 and $18.15. 

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Pratik Chadhokar: Pratik Chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.