Price Prediction

OMG Price Prediction: Market Analysis and Opinions

The financial services sector housed under the wide umbrella of blockchain is expected to grow by leaps and bounds moving forward – that is good news for OMG price prediction. However, this old guard has stuck to the traditional application of cryptocurrencies in the payment processing aspect, yet investors cannot get enough.

For the last couple of years, OMG flew under the radar for most investors because it operated out of the Ethereum spotlight. Its business model keeps it briskly on its operating segments, thereby accounting for the bullish OMG coin price prediction. Here is the complete OMG network price prediction:

OMG Price Prediction | Introduction

At the time of making this OMG coin price prediction, OMG coin is trading at $2.36 according to data available on coinstats.app. It is no longer the coolest kid on the block, but it draws a crowd of bulls with its $328.3 million market cap, fully diluted to the same figure.

OMG network, formerly known as OmiseGo, is powerful and scalable for online businesses to accept cryptocurrency payments. By design, the ecosystem enables users to transact ETH and ERC20 tokens significantly faster and more cost-effective than using the traditional Ethereum network.

The ecosystem is powered by the OMG token, a utility token used to facilitate payments in the form of fees for the OMG network. Its entire focus is on building the infrastructure to improve transactional throughput and extend the capabilities of smart contracts to improve the outlook on OMG network price prediction.

OMG Price Prediction: Technical Analysis

Another red-hot reading sent OMG token on a choppy ride giving holders modest losses, but this price action also extends the window of opportunity for unconvinced buyers to reenter. For a complete OMG price prediction, here is a summary of the recent price action:

MonthOpen PriceClosing PriceMonth HighApril 2022$5.4898$3.9495$6.1490March 2022$4.2223$5.4875$6.0630February 2022$5.0160$4.2230$5.6036January 2022$6.1107$5.0158$6.8836December 2021$8.6418$6.8626$8.7603November 2021$13.4282$8.6092$20.0425October 2021$12.4654$13.3964$18.1246

A bullish signal from its current position could trigger OMG token price to double soon with upside potential capped at a possible year high. OMG, the token price has been stuck in a downtrend since mid-November and now shows the build-up to a potential reversal to reclaim losses.

The bullish divergence at the support floor leans towards a likely OMG network price prediction, indicating the OMG token is ready for a rally of 100% to the next available resistance barrier. A daily candlestick formation above the current position will create a relief formation and make a case for a bullish outlook.

OMG Price Prediction: Pattern Formation

The token price has been on a nosedive since November 21 and has lost roughly 85% of its value. Regardless of the massive bearishness, the OMG token has created equal lows around $3.65. This price development suggests forming a potential base around the support floor that hints at a potential reversal.

OMG breached the support from $3.65 and is currently heading for support at $2.68, where the demand zone range from $0.5 to $1.58 could play a role in propelling the token for another stab at $5.59. A crash of 77.64% denies credence for the bullish outlook, but a deep would be necessary to sustain the strength of overhead barriers.

Therefore, investors should brace for further losses as sidelined buyers re-evaluate their priorities to propel OMG network price prediction. The immediate resistance barrier at $5.59 will constitute nearly 124% gains for the holders and is likely where the upside is capped.

OMG Price Prediction: Technical Conclusion

While things are looking up for OMG price prediction, the bearish market structure could threaten this bullish outlook. In such a scenario, a daily candlestick building below $2.68 will create a lower low that invalidates the bullish OMG network price prediction and send OMG towards the $0.5 demand zone.

OMG could find the credence to return to its profit-making days from this level after collecting the liquidity resting at around $1.5. If this is the case, the OMG token will rise to challenge the resistance barrier at $3.65, which could be converted into reliable support.

OMG Price Prediction: Market Analysis

It is a choppy year for OMG token as cryptocurrency influencers and experts unpacked the OMG coin price prediction. A forecast released by trading professionals reveals the pace at which to mark the recent price action with concerning movements within the deeper outlook for the OMG coin.

OMG Price Forecast for May – June

TradingBeasts

TradingBeasts OMG coin price prediction confirms the presence of the bulls who are holding the line to defend the technical formation, pushing price action further upwards above $3.35. However, to book further gains, the bull will have to stay in shape for the OMG price forecast for May – June to materialize around support at $2.68.

CoinArbitrage

CoinArbitrage bolsters the bullish position with a bearish breaker formation that could rebound at $1.75, where traders will digest the bearish trading season. A rally could cut short the selling frenzy once this OMG price forecast for May – June is confirmed, potentially reaching $7.28.

OMG Price Prediction for the Rest of the Year

WalletInvestor

WalletInvestor OMG price prediction is spooked by the strength of the bears and renewed tensions along the support floor, forecasting a fall to $0.527. OMG could be set to break the bullish thesis as a relief rally falls short of reversing this OMG price for the rest of the year.

DigitalCoin

DigitalCoin counters the bearish thesis with a prediction that sees OMG popping above a significant resistance area at $3.20 to add strength to a relief rally aiming for value adjustment above $3.72. The strength of will by the bulls will represent the success of OMG price for the rest of the year, eyeing $3.45.

OMG Price Prediction for the Next Year

PricePrediction

PricePrediction OMG network price prediction is routing for a bullish breakout as bulls target some low-hanging fruit at $3.13 to fetch the momentum to $3.53. After that, OMG could gain enough to withstand the turmoil building up at resistance, where a breakout will guarantee the OMG price prediction for the next year at $5.47.

Gov.Capital

Gov.Capital is seeing a bullish setup where OMG could tank for another 10% before rallying to $20.81 to push the token in a bullish hold to reclaim lost glory. After bulls re-enter to challenge the trend channel, the holder could be set for firework bending validation of the OMG price prediction for the following year.

Cryptocurrency Influencers and Experts

BKCY is going long on OMG price prediction, projecting bearish formation crumbling under bullish pressure and making a new high for 2022. After that, the OMG token could return to the bullish channel towards an unfinished business with a resistance level dating back to October 2021.

CryptoWhale100Billion is flashing green signs at OMG token, predicting the coin is set for fireworks in the coming months once a confirmed bullish breakout signals bulls flocking into the market. Recovery from the bear trap will see participants ride the wave above $20 as OMG remains on track for a bullish breakout.

Latest News and Happenings Concerning OMG

After unveiling the ‘Boba Network’ layer-2 solution, OMG price prediction is poised for an unveiling that targets a new all-time high. OMG recently rebranded from OmiseGo, as part of a broader initiative to take on more market and expand its business value proposition with scalable and efficient solutions.

A major part of this growth plan is the support of the Enya and Boba network for developing stronger decentralized infrastructure solutions. Enya will take charge of the development of the Boba network as the core contributor, which could impact the bullish outlook once launched.

Related articles: Chia Price Prediction | Celo Price Prediction | XVG Price Prediction

OMG Price Prediction: The Verdict

Within the market, OMG token could beat its competition. The token’s growth is attractive, but the overall market environment makes OMG price prediction a good play for market participants with a strong timing suit. As a result, this token will recover soon rather than later.

The post OMG Price Prediction: Market Analysis and Opinions appeared first on Coindoo.

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