OMG NETWORK - OMG/USDT - Weekly - Technical analysis published on 08/28/2020 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
11%
11%
My opinion
Bullish above 4.81 USDT
My targets
5.87 USDT (+15.40%)
8.09 USDT (+58.94%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on OMG NETWORK - OMG/USDT as long as the price remains well above 4.81 USDT. The buyers” bullish objective is set at 5.87 USDT. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.09 USDT. If there is any crossing, the next objective would be the resistance located at 18.30 USDT. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.1
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This analysis was given by dallas28. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OMG NETWORK - OMG/USDT price is 5.09 USDT. The price registered a decrease of -17.01% over 5 days and was traded between 4.83 USDT and 6.41 USDT over the period. The price is currently at +5.45% from its lowest point and -20.57% from its highest point.4.83
6.41
5.09
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Abnormal volumes
Timeframe : 5 days
Technical
A technical analysis in Weekly of this OMG NETWORK - OMG/USDT chart shows a strongly bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 100
Type : Bullish
Timeframe : Weekly
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : Weekly
In fact, 14 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 90
Type : Neutral
Timeframe : Weekly
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Long white line
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.49 | 2.70 | 4.81 | 5.09 | 8.09 | 18.30 | 24.86 |
| Change (%) | -90.37% | -46.95% | -5.50% | - | +58.94% | +259.53% | +388.41% |
| Change | -4.60 | -2.39 | -0.28 | - | +3.00 | +13.21 | +19.77 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.23 | 4.58 | 4.80 | 5.15 | 5.37 | 5.72 | 5.94 |
| Camarilla | 4.86 | 4.92 | 4.97 | 5.02 | 5.07 | 5.12 | 5.18 |
| Woodie | 4.16 | 4.54 | 4.73 | 5.12 | 5.30 | 5.69 | 5.87 |
| Fibonacci | 4.58 | 4.79 | 4.93 | 5.15 | 5.36 | 5.50 | 5.72 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -5.53 | -1.82 | 2.16 | 5.87 | 9.85 | 13.57 | 17.54 |
| Camarilla | 4.02 | 4.72 | 5.43 | 6.13 | 6.84 | 7.54 | 8.25 |
| Woodie | -5.41 | -1.75 | 2.29 | 5.94 | 9.98 | 13.63 | 17.67 |
| Fibonacci | -1.82 | 1.12 | 2.94 | 5.87 | 8.81 | 10.63 | 13.57 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.05 | 1.22 | 1.40 | 1.57 | 1.75 | 1.92 | 2.10 |
| Camarilla | 1.48 | 1.52 | 1.55 | 1.58 | 1.61 | 1.65 | 1.68 |
| Woodie | 1.05 | 1.22 | 1.40 | 1.57 | 1.76 | 1.93 | 2.11 |
| Fibonacci | 1.22 | 1.35 | 1.44 | 1.57 | 1.71 | 1.79 | 1.92 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 76.85 | |
| MACD (12,26,9): | 0.7500 | |
| Directional Movement: | 60.51 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 2.97 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.50 | |
| Elder Ray (13): | 3.41 | |
| Super Trend (3,10): | 2.67 | |
| Zig ZAG (10): | 5.16 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 63.41 | |
| TEMA (21): | 3.64 | |
| Williams %R (14): | -53.81 | |
| Chande Momentum Oscillator (20): | 3.43 | |
| Repulse (5,40,3): | 9.9000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 4.5400 | |
| Courbe Coppock: | 354.77 |
| MA7: | 5.60 | |
| MA20: | 3.77 | |
| MA50: | 2.46 | |
| MA100: | 2.01 | |
| MAexp7: | 3.37 | |
| MAexp20: | 2.17 | |
| MAexp50: | 1.71 | |
| MAexp100: | 2.22 | |
| Price / MA7: | -9.11% | |
| Price / MA20: | +35.01% | |
| Price / MA50: | +106.91% | |
| Price / MA100: | +153.23% | |
| Price / MAexp7: | +51.04% | |
| Price / MAexp20: | +134.56% | |
| Price / MAexp50: | +197.66% | |
| Price / MAexp100: | +129.28% |
Quotes :
2020-08-28 14:24:48
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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