OMG had a rollercoaster ride the past week. With weekly highs and lows ranging from $8.7 and $6.9, the price gradually ended up at its weekly starting value and is currently trading at $7.7 against USD.
- Multiple bearish trends were compensated with significant upward rallies
- Support at $6.9 and $7 acted as a pivot point, but strong resistance at $8.6 did the same
- OMG/ETH had a good performance as it gained 13%, with current trading value at 0.0261 ETH
Considering the weekly chart first, we can see three bearish trend line along with a 24-hour steep bullish line. Support levels at $6.9 and $7 gradually reversed the trend to a bull, but strong resistance above $8.6 resulted in a bearish trend which is stabilizing gradually.
Moving to the 24-hour chart, the price is moving within a very narrow band between $7.9 and $7.6 with resistance and support at the respective levels. But the 12-hour chart is indicating an upward movement even though for a short term.
The statistical tools and oscillators are also indicating a positive movement. Though MACD curves are moving flat for a while, it is moving with a slight upward tilt and the Stoch is also indicating an upward movement.
Against ETH, OMG had a good performance week-on-week. A gradual upward trend took the value 13% higher than the week start and is now trading at 0.0261ETH.
Well, OMG had a firm backing the token. Even though OMG didn’t perform well when compared to its ICO performance, it seems it is gaining the trust of the traders gradually.Trade on OMG
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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