• OMG/USD market valuation has dumped to the south as price approaches an accumulation territory at $2 mark.
• The OMG/USD price worth may go lower if $2.10 and $2 market regions are eventually breached southward further.

OMG/USD Medium-term Trend: Bearish

• Distribution territories: $2.80, $3, $3.20
• Accumulation territories: $1.80, $1.60, $1.40

OMISEGO price worth as paired with the US dollar has been visibly prevailed over by its counter currency. The crypto has been slowly dropping in value towards its SMA trading indicator. About a few hours, the indicator got broken down to the south as price approaches an accumulation territory at $2 mark.

The 50-day SMA is located at $2.40 a bit underneath the Bollinger Middle Band. The Stochastic Oscillators have slightly dipped past range 20 into the oversold zone.

Indication now has it that if the bears maintain a stronghold in a consolidation moving mode, a low point at $1.80 may be possibly tested before relaxing. Meanwhile, a reversal move measuring up to the value of $2.30 may potentially bring about an upsurge in the market.

OMG/USD Short-term Trend: Bearish

Most of the price movements featured in the market of OMG/USD in the last several hours today showed that the trade was in formerly in a range moving mode. About three hours to the time of writing, the US dollar has overwhelmed the valuation of the crypto to the extent of bringing it lower at $2.06 or thereabout.

The 50-day SMA indicator is a bit located below $2.50 horizontal line. The Bollinger Lower Band trend-line still slightly points to the south. The Stochastic Oscillators now consolidate at range 20.

The bears seem to have faced a rejection between $2.10 and $2 market regions. If those trading zones are breached to the south, then, the bearish move will continue freely down to lower spots of between $1.90 or $1.80 marks.

OmiseGo:

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