OMG - Nearing historic key support line - Great buy

20 de jul. de 2018

Looking at the daily chart for OMG, we can see that the price has been consolidating since its meteoric rise in Aug/Sept of last year. At the moment, it is approaching a key support line (white) from which it bounced off of in December. This support acted as the steadfast catalyst it needed to start its next run up. Could it happen again here? We'll see. We can see falling price action has led to a new low on the RSI at 21, however there is solid support on daily MACD, which may indicate higher prices to come. The price action currently finds itself in a falling wedge and is getting tighter and tighter. Of course this is all indicative on Bitcoin, so watch for the bounce. It maybe the bottom a its next big run.