OMGUSDT - Key levels to help identify local tops and bottoms1. The red trendline has acted as resistance since Nov 2018. It has successfully identified local tops since.
2. Each of the last few pumps have been 600% +. Can it do it again in 2022?
3. The yellow line represents the 0.1 Fib level of the previous wave, it is where OMG has found support post each consolidation.
4. The green trend line has acted as support since mid 2020 and has successfully identified local bottom post each consolidation. A level of max opportunity!
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OMGETH
There is a possibility for the beginning of an uptrend in OMGETHTechnical analysis:
. OMISEGO/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 48.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue .
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.015300 to 0.013600). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.015300)
Ending of entry zone (0.013600)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.016550
TP2= @ 0.017700
TP3= @ 0.019340
TP4= @ 0.021610
TP5= @ 0.023870
TP6= @ 0.031190
TP7= Free
A trading opportunity to buy in OMGETHTechnical analysis:
. OMISEGO/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 67.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.013600 to 0.012000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.013600)
Ending of entry zone (0.012000)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.015000
TP2= @ 0.016550
TP3= @ 0.017700
TP4= @ 0.019340
TP5= @ 0.021610
TP6= @ 0.023870
TP7= @ 0.031190
TP8= Free
