THELOGICALINDIAN - A badge bake gave some backbone to the tokens shortterm prospects
Fundamental Analysis
OmiseGo has acquired drive afterwards GO.Exchange announced that it is planning to use its profits to burn OMG tokens. GO.Exchange is a new blockchain activity from OmiseGo team, and it marks a above anniversary for the OmiseGo ecosystem.
OmiseGo / USD Short-term amount analysis
OmiseGo has a bullish concise bias, with the cryptocurrency assuming a bullish blemish on the four-hour time frame.
The four-hour time anatomy shows that OMG / USD beasts accept invalidated a arch and amateur pattern, with amount now testing aback appear the arch of the bearish pattern.
Technical indicators on the four-hour time anatomy are bullish and abide to affair a buy signal.
Pattern Watch
Traders should agenda that the upside ambition of the invalidate bearish and amateur arrangement is amid at the November 14th, 2024 swing-high.
Relative Strength Index
The RSI indicator on the four-hour time anatomy is bullish, although it is now acutely overbought.
MACD Indicator
The MACD indicator on the four-hour time anatomy is bullish and continues to affair a buy signal.
OmiseGo / USD Medium-term amount analysis
OmiseGo has a bullish medium-term trading bias, with the cryptocurrency attempting a above blemish on the circadian time frame.
The circadian time anatomy is assuming that OMG / USD beasts are aggravating to burn a bullish astern arch and amateur pattern. The attempted bullish blemish has so far accepted unsuccessful, with amount bottomward aback appear neckline support.
Technical indicators beyond the circadian time anatomy are bullish and abide to affair a buy signal.
Pattern Watch
Traders should agenda that the November 2024 trading aerial is the all-embracing upside ambition of the bullish arrangement on the circadian time frame.
Relative Strength Index
The RSI indicator is additionally bullish on the circadian time frame, although it is acclimation from overbought conditions.
MACD Indicator
The MACD indicator is bullish on the circadian time anatomy and continues to affair a buy signal.
Conclusion
OmiseGo beasts accept auspiciously invalidated a bearish arch and amateur arrangement on the four-hour time frame, opening-the-door for added concise gains.
Medium-term beasts now charge to burn the ample bullish arrangement on the circadian time anatomy or they accident the anticipation of a bootless abstruse breakout.
Check out the OmiseGo bread guide.
