OmiseGo [OMG] Technical Analysis and Price Prediction 2018, 2020 22459
News
Priyanka Babu
Sep 6, 2018 at 6:45 AM

The crypto market today has faced a mysterious meltdown with Bitcoin plunging below the $7000 mark. Bitcoin experienced panic selling in a span of two hours where its prices slumped over 5% against USD while other coins followed its lead and fell by 10% in the bear storm. OmiseGo is one among the coins to have suffered a loss of over 20% in the crash.

OMG/USD

The prices have broken out from the last support level found at $4.06. The seller pressure seems to be rising as the prices are unable to find stable support for long. The MACD indicates a severe bullish momentum for the prices. OMG is trading well below the bullish trendline suggesting the investors will have to wait for a price recovery. OMG is currently trading at $3.427 and is losing against USD by 22.28%.

OmiseGo [OMG] Technical Analysis and Price Prediction 2018, 2020-BCFocus

OMG/BTC

Currently, one OMG is equal to 0.00055585 BTC and is falling against BTC by 16.65%.

OMG Price prediction 2018, 2020

According to Tradingbeasts, "The OmiseGO price is forecasted to reach $12.20 by the beginning of December 2018. The expected maximum price is $15.49, minimum price $10.54. The OmiseGO price prediction for the end of the month $12.40." By the end of 2020, OMG prices are expected to reach around $17.

Coinliker forecasts that OMG prices will touch $80 in a year and five years from now the coin prices are expected to reach $320.

OMG Latest Updates

  • OmiseGo has released an early alpha of a plasma-based scaling solution. This endeavor focusses on increasing the transaction capacity of the OmiseGo and other scalability issues.
  • OmiseGo started trading on Bitpanda earlier this month. Upon the announcement, OMG prices started to recover and started trading above $6.

See Also: Ethereum [ETH] Technical Analysis and Price Prediction 2018, 2020

                    Making sense of crypto market crash: Bitcoin [BTC] tumbles, other coins follow suit

Image via Google

Join our Telegram group