• OMG/USD market now appears to find a sit around the $2 price line to possibly feature a line of range price movements afterward.
• The bears' force in the market, may soon be weakening, especially in the short-term run of the market.

OMG/USD Medium-term Trend: Ranging

• Supply levels: $2.30, $2.40, $2.50
• Demand levels: $1.90, $1.80, $1.70

After a long notable line of range price movements in the OMG/USD trade in the medium-term run, the pair has now fallen into a lower range spot. Since June 15 until yesterday’s sessions of this crypto-trade on June 17, the pair featured a number of erratic higher lows and higher highs around the trend-lines of both the Bollinger Upper and Middle Bands.

As at the time of writing, the price has been hovering around a conjoint point of the Bollinger Lower Band and the 50-day SMA a bit over $2 price level. The Stochastic Oscillators have slantingly and slightly dipped past range 20 into the oversold zone.

The OMG/USD market seems to find a sit around the $2 price line to possibly feature a line of range price movements prior to gaining a definite direction. There could soon be a further drawdown below the aforementioned price line so that a correction may take effect in the market.

OMG/USD Short-term Trend: Bearish

There have been systemic slight downward price movements in the market valuation of OMG/USD today. Yesterday, the pair moved significantly in a range around its trading indicators. The market started falling at a near point under the Bollinger Middle Band.

The 50-day SMA indicator is located above the Bollinger Middle Band's trend-line. Presently, the market has been trading below the indicators. The Stochastic Oscillators have headed down to the south to seemingly start a consolidation move around range 20.

The bears in the market might have achieved their target as they have brought down the market’s point to the Bollinger Lower Band level. Therefore, the OMG/USD trade may now begin to experience variant choppy price movements around $2.05 and $2 marks.

OmiseGo:

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