OMG NETWORK - OMG/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	OMGUSD
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OMG NETWORK - OMG/USD - Daily - Technical analysis published on 08/30/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

56%

39%

My opinion

Bearish under 0.623333 USD

My targets

0.454000 USD (-10.98%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.623333 USD remains possible. It is advisable to trade OMG NETWORK - OMG/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.623333 USD. The next bearish objective for sellers is set at 0.454000 USD. A bearish break of this support would revive the bearish momentum. PS: if there is a bullish break in the resistance located at 0.623333 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

Force

2.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The OMG NETWORK - OMG/USD price is 0.510000 USD. The price registered an increase of +2.00% on the session and was traded between 0.500000 USD and 0.510000 USD over the period. The price is currently at +2.00% from its lowest and 0% from its highest.

0.500000

0.510000

Here is a more detailed summary of the historical variations registered by OMG NETWORK - OMG/USD:

Technical

A technical analysis in Daily of this OMG NETWORK - OMG/USD chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	0.454000	0.510000	0.750000	1.240000	1.940000
Change (%)	-10.98%	-	+47.06%	+143.14%	+280.39%
Change	-0.056000	-	+0.240000	+0.730000	+1.430000
Level	Intermediate	-	Minor	Minor	Minor

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.423333	0.446667	0.473333	0.496667	0.523333	0.546667	0.573333
Camarilla	0.486250	0.490833	0.495417	0.500000	0.504583	0.509167	0.513750
Woodie	0.425000	0.447500	0.475000	0.497500	0.525000	0.547500	0.575000
Fibonacci	0.446667	0.465767	0.477567	0.496667	0.515767	0.527567	0.546667

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.400000	0.430000	0.450000	0.480000	0.500000	0.530000	0.550000
Camarilla	0.456250	0.460833	0.465417	0.470000	0.474583	0.479167	0.483750
Woodie	0.395000	0.427500	0.445000	0.477500	0.495000	0.527500	0.545000
Fibonacci	0.430000	0.449100	0.460900	0.480000	0.499100	0.510900	0.530000

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.376667	0.473333	0.526667	0.623333	0.676667	0.773333	0.826667
Camarilla	0.538750	0.552500	0.566250	0.580000	0.593750	0.607500	0.621250
Woodie	0.355000	0.462500	0.505000	0.612500	0.655000	0.762500	0.805000
Fibonacci	0.473333	0.530633	0.566033	0.623333	0.680633	0.716033	0.773333

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	48.18
MACD (12,26,9):	-0.0229
Directional Movement:	-3.583071
AROON (14):	-14.285714
DEMA (21):	0.472815
Parabolic SAR (0,02-0,02-0,2):	0.421416
Elder Ray (13):	0.001054
Super Trend (3,10):	0.586944
Zig ZAG (10):	0.510000
VORTEX (21):	0.8313
Stochastique (14,3,5):	67.02
TEMA (21):	0.474595
Williams %R (14):	-18.18
Chande Momentum Oscillator (20):	0.030000
Repulse (5,40,3):	3.0819
ROCnROLL:	-1
TRIX (15,9):	-0.7079
Courbe Coppock:	17.52

MA7:	0.487143
MA20:	0.507000
MA50:	0.562400
MA100:	0.613000
MAexp7:	0.492638
MAexp20:	0.504365
MAexp50:	0.555610
MAexp100:	0.661400
Price / MA7:	+4.69%
Price / MA20:	+0.59%
Price / MA50:	-9.32%
Price / MA100:	-16.80%
Price / MAexp7:	+3.52%
Price / MAexp20:	+1.12%
Price / MAexp50:	-8.21%
Price / MAexp100:	-22.89%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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