OMG Network / US Dollar Cryptocurrency Forecast
OMG Network / US Dollar cryptocurrency price down 4.28% on Monday
(Updated on Apr 29, 2024)
The OMG Network / US Dollar cryptocurrency price fell by -4.28% on the last day (Monday, 29th Apr 2024) from $0.659 to $0.631. It has now fallen 5 days in a row. During the last trading day the cryptocurrency fluctuated 6.00% from a day low at $0.623 to a day high of $0.660. The price has fallen in 7 of the last 10 days and is down by -5.18% for this period. Volume has increased on the last day by 12 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately $8.67 million.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.612 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 9.58% during the next 3 months and, with a 90% probability hold a price between $0.671 and $1.46 at the end of this 3-month period.
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OMGUSD Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The OMG Network / US Dollar cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.673 and $0.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -50.33%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.
Support, Risk & Stop-loss for OMG Network / US Dollar cryptocurrency
OMG Network / US Dollar finds support from accumulated volume at $0.624 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0373 between high and low, or 6.00%. For the last week, the cryptocurrency has had daily average volatility of 6.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OMGUSD) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect OMG Network / US Dollar to open at $0.638, and during the day (based on 14 day Average True Range), to move between $0.560 and $0.702, which gives a possible trading interval of +/-$0.0712 (+/-11.29%) up or down from last closing price. If OMG Network / US Dollar takes out the full calculated possible swing range there will be an estimated 22.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.624 (1.02%) than the resistance at $0.750 (18.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OMG Network / US Dollar cryptocurrency A Buy?
The OMG Network / US Dollar cryptocurrency holds several negative signals and despite the positive trend, we believe OMG Network / US Dollar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -4.825 Sell Candidate Unchanged
Predicted Opening Price for OMG Network / US Dollar of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $0.638 ( 1.11%) | $0.631 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OMGUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.675 | 7.03 % | |
| R2 | 0.661 | 4.77 % | ||
| R1 | 0.652 | 3.37 % | ||
| Current price: | 0.631 | |||
| Support | S1 | 0.624 | -1.15 % | |
| S2 | 0.615 | -2.55 % | ||
| S3 | 0.600 | -4.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.771 | 22.23 % | |
| R2 | 0.765 | 21.34 % | ||
| R1 | 0.750 | 18.91 % | ||
| Current price | 0.631 | |||
| Support | S1 | 0.624 | -1.02% | |
| S2 | 0.622 | -1.43% | ||
| S3 | 0.605 | -4.01% |
FAQ
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