• The bears have been having a better advantage in the OMG/USD trade as with the bulls.
• The OMG/USD trade still appears to find a demand price point to end the bears’ trending mote in the market.

OMG/USD Medium-term Trend: Bearish

• Supply levels: $2.60, $2.80, $3
• Demand levels: $1.80, $1.60, $1.40

OMG/USD trade operations have slightly slumped downwards after achieving a price point at high value of around $2.40 mark. The USD has been able to force the market to a low point at around $2 price level. The 50-day SMA and the Bollinger Middle Band trend-lines have conjoined around $2.20 horizontal line. The Stochastic Oscillators now seemingly begin to consolidate around range 20.

At the current trading point of the market at the $2 mark, the bears look getting lose gradually. But then, the bulls may not be taking on that advantage quickly to cause the Bollinger Upper Band’s trend-line expansion to the north.

OMG/USD Short-term Trend: Bearish

The short-term run of the OMG/USD market has been basically dominated by variant choppy price movements around $2.10 and $2 market levels today. The OMG/USD trade saw most of its trading activities characterized by lower lows than lower lows underneath the sell signal trend-line of the 50-day SMA. The Stochastic Oscillators are now consolidating around ranges 40 and 20.

The OMG/USD trade still appears to find a demand price point to end the bears’ trending mote in the market. However, the market point at $2.10 may be a good price to watch if price reverses against after a surge might have taken place past it. So, therefore, the bears may make a come-back fully once again.

OmiseGo:

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