- The derivative volume for the crypto has declined by -10.13% in the last 24 hours.
- The OMG crypto is linked to the ETH asset representing chain.
The trading volume of the crypto has advanced by 15.31% in the last 24 hours with a decline of 0.44% in the market cap which indicates that new sellers are entering the crypto which can lead the price to lower levels.
The OMG network coin was launched on 06th July 2017 and since then the crypto hit a high price of $25.62 on Jan 13, 2018, and made its all-time low on March 13, 2020. The price of the crypto is only 22.17% above its all-time low price.
The OMG crypto supports ERC-20 token standards and has a total supply of 140.24M OMG following the same amount of max supply with a diluted market cap of $60.57M. The market cap rank of the crypto is #323 and the market cap dominance of the crypto is 0.006%.
OMG Network Price Technical Analysis
The price of the crypto has been consistently declining making lower low swings and is currently following a strong downtrend on the charts. On the daily timeframe, the crypto has formed a bearish market structure and has created an imbalance at the higher level, therefore if the price reverses on the upside, it will face resistance at the higher levels.
As the price of the crypto has been consistently declining from higher levels, the market has led to a death cross in the 50-day and the 200-day EMA following a downtrend in the coin.
The value of the RSI for the crypto has declined below the 50-level currently trading at the level of 36.59 and has also declined below the 14-day SMA which indicates weakness on the charts, Therefore the RSI is giving a bearish signal.
OMG Network Volume Analysis
The volume of OMG crypto has been consistently declining from the higher levels and does not show any significant change in the current times.
Conclusion
OMG Crypto has been declining from the higher levels following a negative market structure following negative signaling RSI and the EMA. Also, there is no significant activity in the volume data and the derivatives of the crypto. Therefore, the price of the OMG crypto is expect to decline to lower levels and stay volatile.
Technical Levels
- Support Level: $0.3500 and $0.400
- Resistance Level: $0.8900 and $2.3400
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.