• OMG/USD market may soon experience a line of choppy price movements around small space between the trend-lines of the 50-day SMA and the Bollinger Middle Band.
• The market line at $2.50 may be a retarding point to the bulls’ forces to the northbound of the trade.

OMG/USD Medium-term Trend: Bearish

• Distribution territories: $2.80, $3, $3.20
• Accumulation territories: $2, $1.80, $1.60

OmiseGo market valuation has been somewhat overwhelmed by the US dollar. The market traded around a high value at $2.80 on June 30, and on June 2, got a low mark at $2.20.

Presently, the pair has a bit sprung up to trade around the Bollinger Middle Band trend-line. The 50-day SMA is situated a bit below the Bollinger Upper Band. The Stochastic Oscillators now seemingly point north-east at range 60.

There may soon be a chain of choppy price movements around small space between the trend-lines of the 50-day SMA and the Bollinger Middle Band. While price can’t move or keep over the $2.40 price territory, the bears may re-exert a pressure on the market, and later on, go down to test $2.

OMG/USD Short-term Trend: Ranging

There has a range of price movements in the OMG/USD market today. The choppy price movements could be seen at $2.40 price line which may as well be regarded as a median point to $2.50 point as the upper range, and $2.30 mark as the lower range line of the market.

All the trading indicators now fall within the choppy zones as the 50-day SMA is closely located to the Bollinger Lower Band. The Stochastic Oscillators now consolidate around range 40.

The OMG/USD market has been somewhat trying to rebound to the northward despite its current range moving mode in the short run. However, the maarket line at $2.50 may be a retarding point to the bulls’ forces to the northbound of the trade.

OmiseGo:

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