Late last week, OMG Community value increased to its greatest value level since August 2022, reaching highs of $2.50 on major exchanges. In the midst of the financial sector’s unrest, bulls took advantage of the positive cryptocurrency atmosphere to drive OMG’s value up, with prices soaring significantly over the weekend.
Despite the current Coinbase delisting information, the currency has increased in value.
However, even while OMG/USD has increased by more than 32% over the past seven days, it has decreased by more than 15% over the past 24 hours. As of the time of writing, OMG was trading around $1.89, putting its positive momentum in jeopardy should bears succeed in short-term strengthening.
OMG value outlook for each day
It appears as though revenue taking offers have been sharply receding during the past few hours. As can be seen on the daily chart below, OMG has retraced to lows of $1.85 after failing to overcome resistance at $2.50.
To warn bulls of a weak position, the daily RSI is dropping toward the center line. In this instance, bulls must carry support at $1.80 to prevent further losses. It is likely that OMG may return demand zones on the 200 EMA (near to $1.68) if the negative situation continues.
One more $1.56 anchor could come from the 50-day EMA.
4-hour OMG value outlook
On the 4-hour chart, OMG is approaching a previous resistance level from February at $2.00; bulls need to maintain above the orange zone highlighted in order to halt more carnage. The 4-hour RSI has flatlined close to the middle line, as seen below, to suggest bulls want to take control of recent purchase OMG offers.
Stopping a turn into oversold area is important, and if the MACD line doesn’t continue to decline, this is more likely to be helpful. The histogram can also be used to suggest that bear populations are still healthy.
As was previously mentioned, OMG bulls may seek to defend the initial support area around $1.68 if prices take a downward swing from their current levels.Positively, with prices above $2.34, optimism is more likely to increase.
OMG value outlook: OMG Community declines 15% as revenue declines first published on CoinJournal.