On the 2nd of November, OmiseGo tested $5.5, which is the lowest price since August. While testing the low it rejected the 327.2% Fibonacci support level applied to the corrective wave after the downtrend trendline breakout.
After rejecting the support at $5.5 OMG/USD went up, breaking above the downtrend trendline as well as 200 Moving Average. But then a sharp corrective wave has followed.
On the correction, OmiseGo has rejected the uptrend trendline and the support formed on the 15th of September.
The price action suggests that a stronger growth could be expected in the short to medium term, although close above the $7.6 would add more probability to this scenario. The upside targets are based on Fibonacci applied to the corrective wave after breaking the downtrend trendline.
First target is at 127.2% - $9.17, while the second target is at 227.2% - $11.66. Break below the $5.5 support would invalidate this bullish outlook and could either extend the consolidation or send OmiseGo lower.
After rejecting the support at $5.5 OMG/USD went up, breaking above the downtrend trendline as well as 200 Moving Average. But then a sharp corrective wave has followed.
On the correction, OmiseGo has rejected the uptrend trendline and the support formed on the 15th of September.
The price action suggests that a stronger growth could be expected in the short to medium term, although close above the $7.6 would add more probability to this scenario. The upside targets are based on Fibonacci applied to the corrective wave after breaking the downtrend trendline.
First target is at 127.2% - $9.17, while the second target is at 227.2% - $11.66. Break below the $5.5 support would invalidate this bullish outlook and could either extend the consolidation or send OmiseGo lower.
Nota
support is being rejectedNota
First target reachedDagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.