tcr_thecoinrepublic

OMG Network Live Price Heading Toward Critical Resistance Zone

Short
KRAKEN:OMGUSD   OmiseGO / U. S. Dollar
The technical chart of OMG Network highlights the significant retracement faced by the price levels after touching the critical resistance area of $5.00. The price levels went straight down to the critical support area of $2.50 resulting in almost 50% retracement . The support level did provide a positive bounce back to the support levels and during the current market session, the price levels looked to have a positive crossover above the resistance line placed at 0.618fib level.

The Relative Strength Index ( RSI ) is constantly retesting the overbought region while sustaining at the bullish level of 60.77.

The Moving Average Convergence & Divergence ( MACD ) looked vulnerable for a bearish crossover after gaining significant bullish levels above the signal line.

The Directional Movement Index (DMI) is showcasing bullish nature as ADX had a positive crossover against +DI .

Resistance Level: $4.00 & $4.90

Support Level: $2.90