after bullish breakout, the rally propel the OMG price
The OMG Network price is looking bullish after interrupting a kind of descending triangle pattern.
The OMG token’s price action appears to be in the rising parallel channel in a higher time frame.
As of now, the OMG network token is observing near below the $6-mark POC, which located the highest liquidity in the last 4 months.
The 100 EMA appears to be a short-term base area for buyers as price retests this area several times on the daily graph. However, the 200 EMA remains a long-term resistance area, challenging the current directional trend.
The daily RSI is at 72-mark and it is trying to reach the doors of the overbought zone. However, the RSI looks above the semi-line after a long time frame, so buyers may attempt to hold the price higher on the side of the RSI indicator.
Similarly, the ADX indicators are indicating a strong bullish trend for the OMG Network.
There is no doubt that the bulls were able to reverse the short-term bearish trend into an upward move but the 200 EMA remains as an important bullish barrier. So buyers need to push OMG tokens in huge quantities,
Support level - $4.5 and $3.5
Resistance level - $6.0 and $7.0
The OMG token’s price action appears to be in the rising parallel channel in a higher time frame.
As of now, the OMG network token is observing near below the $6-mark POC, which located the highest liquidity in the last 4 months.
The 100 EMA appears to be a short-term base area for buyers as price retests this area several times on the daily graph. However, the 200 EMA remains a long-term resistance area, challenging the current directional trend.
The daily RSI is at 72-mark and it is trying to reach the doors of the overbought zone. However, the RSI looks above the semi-line after a long time frame, so buyers may attempt to hold the price higher on the side of the RSI indicator.
Similarly, the ADX indicators are indicating a strong bullish trend for the OMG Network.
There is no doubt that the bulls were able to reverse the short-term bearish trend into an upward move but the 200 EMA remains as an important bullish barrier. So buyers need to push OMG tokens in huge quantities,
Support level - $4.5 and $3.5
Resistance level - $6.0 and $7.0