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OmiseGO (OMG/USD) exchange rate analysis KW31: New year marks deep

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OmiseGO forms with the current movement is a new low for the year. A counter-movement that threatens to further harm is not done here soon. Where are the opportunities on the top and bottom?

Review:

In January 2018 traded OmiseGO is still almost 30 dollars. Of this all-time high, the Coin is caused to be removed very far from each other, and with the current movement for a new year’s low at 5,10 dollars. The steep downward trend of the on 18. July has been established, now shows full effect and OmiseGO can’t have an answer. From a chart technical point of view, the Situation is precarious. All the indicators confirm the current rate of loss. The weakness is also reflected in the Ichimoku-Kinko-Hyo-indicator. The cloud edge is now removed about two US dollars from the current price.

Bullish Version:

OmiseGO now starts at the current exchange rate level (5,30 US$) soil formation. The price rises as quickly as possible back to about 6 US dollars. This is a short-term brightening of the chart image, and the steep downward trend can be left behind. A rate increase of about 6.75 per U.S. Dollar is accompanied by a buy signal, with the aim of 9,83 US Dollar.
Thus, the cloud of the Ichimoku-Kinko-Hyo-indicator exceeded – currently at nine dollars, tendency: falling. The next big hurdle will increase in a course about 10,63 USD. It is an objective of the course is situate at 13,94 US dollars. Even the medium-term is broken the downward trend, the target price of 18,36 USD.

Bearish Version:

The sell-off of OmiseGO goes on. The 5,37-US-Dollar-brand shows on a daily basis will have no effect and is broken. The next important support is at 4,56 dollars. This correction level is not enough, the following objectives are on the bottom:

  1. 3,69 dollars
  2. Of 1.55 US dollars

(The time component of the forecast is arrows only plays a minor role when targets are reached, from the point of view of a trader is irrelevant.)

Conclusion:

“Short dominant” as the chart of OmiseGo see a few “established” Altcoins. This massive rate can mean losses, but also great opportunities. The major brands the chart shows the picture clearly. Active traders and potential buyers should therefore make use of even shorter-term time frames in order to detect a short-term bottom formation.

Disclaimer: The presented on this page, rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

Images on the Basis of data from bittrex.com at 12:40 PM on 03. August created. USD/EUR exchange rate at the time of writing: 0.86 Euro.

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