- The RSI line has shown a significant divergence concerning the OMG token’s price
- The OMG/BTC pair was trading at 0.0002024 BTC, with a loss of 3.38%
- The OMG coin’s 24-hour trading volume is $759.7 Million
Despite many ALT coins experience a substantial fall, the OMG token has managed above the $8.2 support, maintaining its rounding bottom in the daily time frame. The technical chart shows the $10.4 barrier is still a significant obstacle, with the price finding it challenging to break above it. The OMG token’s current price is $8.79, with an intraday loss of 0.91%
The OMG token’s prices trade higher than the EMAs 20, 50, and 100, indicating a solid bullish trend formation. Moreover, the price also has strong support from the 20 EMA.
The RSI value of 52 indicates a slightly bullish sentiment for this coin. However, Crypto Investors may notice a bearish divergence of price action, which projects weakness in the bullish rally.
The OMG Token Indicates A Short-Range In The 4hr Time Frame.
The OMG token price fluctuated between $10.4 to $8.4 for almost three weeks, which has created a narrow range in the OMG/USD chart. For crypto traders interested in the token, this small range could be a great opportunity to get into the market. However, These traders will have to wait for the token price to break out of this range with proper confirmation, as the chart has shown few fakeouts in this range.
The MACD indicator (BEARISH) shows that the MACD and signal lines are moving below the neutral zone (0.00), indicating bearish momentum.
Conclusion: The technical outlook for OMG token is bullish. However, the token price fluctuates within a narrow range with significant RSI divergence, as we have already mentioned. Therefore, the Crypto traders should wait for the price to break free from the critical levels of this range before they enter the coin market.
Support- $8.4
Resistance – $10