One Major Indicator Could Signal Bull Price Action SOON for OMGAs we continue our crusade of analyzing as many coins in the sphere as possible, we will look into $OMG #OmiseGo next.
In the picture above, we can see the price is hanging outside the bottom of the ZN Bands.
This would indicate that an impending bounce could be on the way.
Let’s check the moving fibs.
Moving Fibs Indicator (Custom)
According to the Moving Fibs, the next target would be the support point that is delineated by the blue line that you can see above.
That support point is hanging at about 47.7k sats.
If the price were to head to that point, it would represent an loss of approximately 3% from where the price is currently.
Zerononcense Price Bands
The chart above is self-explanatory for the most part.
RSI(14)
There’s a ridiculous amount of divergence between the price action for $OMG and the RSI(14) on the daily.
This is something that cannot be ignored because it is positive divergence.
This could be a secret breakup when considering the amount of divergence that is on the coin currently.
We’ll definitely make sure to keep an eye on this in the future so that we can ensure that we have front court tickets to the breakout when and if it does happen.
Conclusion
Every other indicator on planet earth apart from the RSI(14) is telling us that $OMG is an immediate sell and should not be touched for awhile.
However, that RSI(14) positive divergence is ridiculously large, and this is something that cannot be ignored.
