The OMG Network is the value transfer network for ETH and ERC20 tokens. It seems that the price of OMG Network (OMG) can continue its uptrend. If the uptrend continues, it seems likely that the price will rise above $6.
The intense selling pressure from the bears has caused the altcoin to test the uptrend and sideways support zone. New low top formation could deepen the decline. Within the downward movements, the $ 5,408 support may meet the investor first. Exposure to selling at this level may also cause the price to decline to $4,953 again.
A new top formation in the current region will help the price rise. It is expected that the price will continue its upward trend without falling below the trend. If the trend is followed, the first resistance to be overcome is located at $5,976. There is 6,213 minor resistance above this region that could suppress the uptrend. Staying above the minor resistance level could test the $6,961 level.
Support points for OMG Network (OMG) are seen at $5,408 and $4,953. The resistance points are at $5,976, $6,213, and $6,961.
Altcoin Short-Term Price Targets
It can be observed that OMG Network (OMG) follows the ascending channel structure. Staying in the channel will ensure the continuity of the rise. Any downside price action could lead to a retest of the $5,617 level. Buying liquidity under this zone may cause the price to decline to the level of $ 5,431. Pressure from the bulls in the current region may cause the price to test the $5,900 resistance. Staying above this level could lead the altcoin to break the $6,205 resistance.
Short-term support points are seen at $5,617 and $5,431. The resistance points are between $5,900 and $6,205.