Good evening traders, lets quickly jump into our OMG analysis.
As we can see on our 4h chart, omg is making lower highs and lower lows, the price just broke the 50ema and now its testing it as resistance.
On the 12h chart, we have already a higher high and the price might wanna make a higher low, the 50 ema is working as support for now, we need look out for the price action on the 4h timeframe now.
A good reload zone is marked on the 12h chart channel.
OMG is a very nice token with good fundamentals, so there is no need to use stop loss here unless you are a day trader.
For short term targets , 20 usd is only fair.
Medium term, 30 usd .
And for long term, i dont think its any absurd if we see OMG above 50 usd this year.
A break and close above our downtrend (green) will give us confirmation that omg is ready to reach higher levels again.
The volume is decreasing so i guess there will be some action very, very soon.
Good trades everyone.
As we can see on our 4h chart, omg is making lower highs and lower lows, the price just broke the 50ema and now its testing it as resistance.
On the 12h chart, we have already a higher high and the price might wanna make a higher low, the 50 ema is working as support for now, we need look out for the price action on the 4h timeframe now.
A good reload zone is marked on the 12h chart channel.
OMG is a very nice token with good fundamentals, so there is no need to use stop loss here unless you are a day trader.
For short term targets , 20 usd is only fair.
Medium term, 30 usd .
And for long term, i dont think its any absurd if we see OMG above 50 usd this year.
A break and close above our downtrend (green) will give us confirmation that omg is ready to reach higher levels again.
The volume is decreasing so i guess there will be some action very, very soon.
Good trades everyone.
Note
OMG is trying to break down our 0.618 level, if the level is broken, the price will likely follow up to 14 usd level.Note
Nice rejection on the 0.618 fibo level.Note
Ok, the price dropper a LOT more than expected, a lot of FUD is going around criptomarket now, but its ok.im not gonna lie, im buying a lot of OMG now.
I keep my word, for medium and LONG term, OMG is an amazing coin!
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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.