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OmiseGo Price Prediction Today: Daily (OMG) Value Forecast – June 7

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  • On the downside, if the bearish pressure continues, the crypto’s price will fall to a low at $1.40 or $1.60 price level.
  • On the other hand, if price breaks above the EMAs the crypto’s price will rise to retest the overhead resistance level.

OMG/USD Medium-term Trend: Ranging

  • Resistance Levels: $2.20, $2.40 ¸ $2.60
  • Support levels: $1.80, $1.60, $1.40

Yesterday, June 6, the price of OMG was in a bullish trend. On April 5, the OMG price reached its peak price of $2.49. However, on April 6, the bulls were resisted at the $2.49 overhead resistance. OmiseGo market had a downward correction to the support of $1.40 price level. At the $1.40 support level, the bulls make an upward move to the overhead resistance. The bulls break above the EMAs but were resisted at the $2.20 resistance level.

The crypto’s price fell from the $2.20 to the support of the 12-day EMA. On June 2, the bulls retested the overhead resistance but were resisted. The crypto’s price had another downward correction as the price fell below the EMAs at a low of $1.96. The crypto’s price is below the EMAs which indicate the price is likely to fall.

On the downside, if the bearish pressure continues, the crypto’s price will fall to a low at $1.40 or $1.60 price level. On the other hand, if price breaks above the EMAs the crypto’s price will rise to retest the overhead resistance level. Nevertheless, the OMG price is in the oversold region of the daily stochastic but below the 20%range. This indicates that price is a bearish momentum and a sell signal.

OMG/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price was in a sideways trend. The crypto’s price fluctuates between the levels of $1.90 and $2.10. The 12-day EMA and the 26-day EMA are sloping horizontally. The crypto’s price tests the lower price range then resumes its range bound movement. Meanwhile, the price is in the oversold region of the daily stochastic but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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