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OMGUSD trade ideas

OMG Price Can See A Downtrend Upto $8OMG Network price is currently at $8.44 with a gain of 0.89%.OMG, the price has formed an Elliot impulse wave on the daily chart. According to the waves, the price can see a dropdown up to $8. After that, it can see an uptrend till $10.It also highlights the possibility of forming a corrective wave that can push the price further down below. One can wait until there is a clear view of the scenario where the price will go and then make the trade. Kindly comment your thoughts below
KRAKEN:OMGUSDShort
by tcr_thecoinrepublic
7
OMG Shows Strong Sustainability Above $8.0OMG price traded at $8.20 with a gain of 18% in the last 24-hour and 35.80% up in the weekly time-frame. Furthermore, OMG bounced back from the support and is sustaining above $8.0. In contrast, the market capitalization stands at $1.16 billion. Technically, investors can perceive a positive crossover in EMA, and the price is above the 8-EMA. RSI index showcases a downward slope for a short while. Moreover, the price movement can be towards the next resistance of $8.80 in future trading sessions. Resistance: $8.80 Support: $6.70
BITFINEX:OMGUSDLong
by tcr_thecoinrepublic
Will OMG Hit $8.00 This Week?OMG price traded at $6.74 with a neutral move of 0.04% in the last 24-hour and 20.88% up in the weekly time-frame. Furthermore, OMG bounced back from the support of $4.90. In contrast, the market capitalization stands at $957.52 million. Technically, investors can perceive a positive crossover in SMA, and the price is above the 21-SMA. RSI index showcases an upward slope. Moreover, the price movement can be towards the resistance of $7.80 in future trading sessions. Resistance: $7.80 Support: $4.90
BITFINEX:OMGUSDLong
by tcr_thecoinrepublic
2
OMG logarithmic support/resistance Idea pathJust a look at our up coming ascending resistance lines and potential for some major gains in the near future. On the chart we are also creating what appears to be an inverted head and shoulders pattern which has nearly completed as well as a potential cup and handle within that same formation. Both very bullish setups overlayed almost directly on top of each other. OMG has mostly missed out on the beginning of this cycle of $$ entering ALTS so investors liquidating positions from other projects that may have temporarily exhausted their runs will be scouting out the next up and coming parabolic moves and OMG fits the bill for new investors and traders who are keeping a watchful eye on this token which has made each one of its moves in a very powerful flagpole movement. It's recent buyout by GBV for $100,000,000 and GBV's instant partnership with Enya tells me this buy out was worked out before hand between these two companies for a very specific purpose and niche field that has identified plasma as their ideal vehicle. And now with their latest AMA describing their change of focus to encrypted multiparty computations using Enya I believe we will soon see a new investment rush to OMG once investors realize the potential use case this and niche field this fills. OMG is currently also working on fast exits from their plasma chain to more adequately be used as a layer 2 for exchanges to reduce Eth congestion, increase erc20 token transfer speed and reduce gas fees by a significant amount. Until fast exit is implemented the exchanges are unlikely to partner or adopt this layer2 solution but the moment it is released I expect a tidal wave raise this token past it's ATH where it will enter price discovery and likely stall out at the top ascending resistance line. This is just my idea path, feel free to pick at it or adopt portions to your own chart
BITFINEX:OMGUSDLong
by thecardiak
1