Key highlights:

  • OMG Network is up by a very strong 50% over the past week of trading
  • The cryptocurrency is now trading at around $13.20
  • Against Bitcoin, OMG set a new all-time high price today at 3,000 SAT
OMG Network price $12.87
Key OMG resistance levels $13.25, $14, $14.73, $15.41, $15.85
Key OMG support levels $12, $11, $10, $9.50, $9

*Price at the time of publication

OMG has been on a very impressive run over the past week after the coin managed to surge by a very powerful 50%. In fact, OMG is now up by over 100% over the past month of trading as it currently sits at the May high-day closing price at around $13.20. The cryptocurrency pushed higher in August to meet resistance at around $9.50 for most of September. 

The resistance at $10 was finally penetrated yesterday as OMG surged above $12. The price hike continued today, allowing OMG to finally break $13 and reach the current $13.20 level.

OMG continues to make great strides in the digital payments market. Their strategic partner and core contributor, Enya, recently released its own next-generation layer-2 scaling solution called Boba Network. The scaling solution is expected to reach thousands of transactions per second. 
Interestingly, the price surge has allowed the trading volume to increase quite significantly over the past week.

OMG Network is now ranked in the 80th position as it currently holds a $1.83 billion market cap value. 

Let us take a look at the OMG Charts and highlight some areas of support and resistance moving forward.

OMG Network price analysis

What has been going on?

Taking a look at the daily chart above, we can see that OMG managed to find support at around $3 toward the end of July. From there, it rebounded higher and remained above an ascending trend line ever since. 

By the end of July, OMG had already managed to reach as high as $7. It continued upward in September but struggled with resistance at $9.50 for the majority of the month. It was not until a few days ago when OMG finally managed to break above $10 and continue higher above $12. Today, OMG pushed back into the May high-day closing price at around $13.25, where it currently trades.

OMG is certainly in a bullish swing higher as it makes its way back toward the previous May all-time high price of around $15.40. The surge has allowed the transaction volume to also increase significantly, which is helping OMG to continue to climb higher. 

OMG Network price short-term prediction: Neutral

OMG Network is considered strongly bullish right now. The cryptocurrency would have to drop beneath $8.25 (100-day MA) to turn neutral in the short term. On the other side, the coin would need to drop beneath the support at $6 (200-day MA) to be in danger of turning bearish.

If the sellers do push lower, the first support lies at $12. This is followed by support at $11 (.236 Fib Retracement), $10, $9.50 (.382 Fib Retracement & 20-day MA), and $9.

Beneath $9, added resistance lies at $8.25 (.5 Fib Retracement & 50-day MA), $9, $7.00 (.618 Fib Retracement), and $6 (200-day MA).

Where is the resistance toward the upside?

On the other side, the first resistance lies at $13.25 (May high-day closing price). This is followed by $14.73 (1.618 Fib Extension), $15.41 (ATH price), $15.85 (1.272 Fib Extension), $17.06 (1.414 Fib Extension), $18, and $20.

OMG/BTC price analysis

What has been going on?

OMG is also performing very well against BTC as it set a new ATH price today at 3,000 SAT. The cryptocurrency really started to take off in September when it broke the August resistance at around 1,400 SAT and started to shoot higher. 

It started to explode in the last week when it surged from 2,000 SAT to break resistance at 2,600 SAT yesterday and reach as high as 2,800 SAT. Today, OMG continued upward to touch 3,000 SAT.

OMG Network price short-term prediction: Bullish

OMG is also bullish against BTC. The coin would need to drop beneath 1,800 SAT (50-day MA) to turn neutral. It would need to continue further beneath 1,500 SAT (200-day MA) to turn bearish.

If the sellers push lower, the first support lies at 2,520 SAT (.236 Fib Retracement). This is followed by 2,400 SAT, 2,220 SAT (.382 Fib Retracement & 20-day MA), and 2,000 SAT (.6 Fib Retracement).

Beneath 2,000 SAT, added support lies at 1800 SAT (50-day MA), 1,740 SAT (.618 Fib Retracement), and 1,600 SAT (100-day MA).

Where is the resistance toward the upside?

On the other side, the first strong resistance lies at 3000 SAT. This is followed by 3,228 SAT (1.272 Fib Extension), 3,400 SAT, 34,80 SAT (1.414 Fib Extension), 3,600 SAT, and 3,850 SAT (1.618 Fib Extension).

Keep up to date with the latest OMG price predictions here.


Please enter your comment!
Please enter your name here