- The RSI line shows a bearish divergence concerning the OMG token price
- The OMG/BTC pair was trading at 0.0002793 BTC, with a gain of 7.49%
- The OMG token’s 24–hours trading volume is $2.19 Billion, indicating a 50% loss
As mentioned in my previous article on OMG, On November 4th, the OMG token price tried to breach the last All-Time High of the $18.1 mark. However, the price couldn’t sustain in its retest phase and dropped below this level, indicating a fakeout. The token price has already given a daily candle closing below this level.
Regarding the EMAs, the OMG token prices trade higher than the EMAs 20, 50, 100, and 200, projecting a solid bullish alignment in its chart.
The RSI value of 61 indicates a bullish sentiment within the OMG token. Furthermore, the RSI also shows a bearish divergence in its chart, suggesting some weakness in this token.
The OMG Token In The 4-hour Time Frame Chart
As for today, the OMG token price is steadily charging towards the lower level of the chart. The nearest support the crypto traders can expect is $15.68, and the token price is currently trading at $16.5, with an intraday loss of $3.48%.
The Moving average convergence divergence(MACD) indicator supports OMG’s current price action, as its lines have just crossed above the neutral zone, indicating a bullish momentum regarding this token. However, the indicator has shown a bearish crossover of these lines, projecting a sell signal.
Conclusion: from a technical perspective, the overall trend for OMG tokens is still bullish. However, as mentioned, the technical chart indicated a fake-out from a crucial resistance of $18.1, resulting in the price falling back to the lower levels. The crypto trade can mark the significant support level in this chart, which can help the token to continue its rally.
Support: $17
Resistance – $18.6