In this OMG Network technical analysis, we will examine the current price action, trading volume, key levels and indicators for OMG-USDT. OMG Network is a decentralized finance (DeFi) platform that enables users to access a wide range of financial services on the blockchain. With OMG, users can borrow, lend, and earn interest on their digital assets in a trustless and permissionless manner. Additionally, OMG’s innovative “liquidity pool” mechanism allows for more efficient and secure trading, making it an attractive option for both individuals and institutions looking to participate in the DeFi ecosystem.
OMG Network Price Overview:
As of July 06, 2024, OMG Network is trading at approximately 0.383 USDT. Let’s dive into the detailed price action for OMG-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.383 |
| High (H) | 0.385 |
| Low (L) | 0.37 |
| Close (C) | 0.383 |
| Volume (C) | 1,448,729.90 |
- Open (O): The opening price for today’s trading session was approximately 0.383 USDT.
- High (H): OMG Network reached a daily high of around 0.385 USDT.
- Low (L): The daily low for OMG-USDT was approximately 0.37 USDT.
- Close (C): At the time of analysis, OMG Network is trading near its daily close of 0.383 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.00% |
| 3D Change (%) | 2.96% |
| 7D Change (%) | -11.95% |
| 30D Change (%) | -42.41% |
| 90D Change (%) | -59.94% |
| YTD Change (%) | -53.74% |
Over the past three days, OMGUSDT has increased by approximately 2.96%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -11.95%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with OMGUSDT maintaining a downward trend of approximately -42.41%, despite intermittent fluctuations. Examining the last 90 days, OMGUSDT has witnessed substantial decrease of approximately -59.94%, reflecting strong long-term confidence. Year-to-date, OMGUSDT has steadily depreciated by around -53.74%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
OMG Network Live Chart:
You can access a live price chart for OMG-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.02056.
- Momentum score is -0.49137.
OMG USDT Technical Analysis
OMG Network Trading Volume:
The trading volume for OMG Network (OMG) over the past 24 hours has been insignificant, with approximately 1,448,729.90 USDT traded against OMG. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): OMG is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): OMG Network is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for OMG-USDT is currently in the low zone, around 33.0994. This suggests that OMG Network is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
OMG Network (OMG-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Follow potential bearish trend for OMG Network (OMGUSDT) at 3.83e-01 USDT with technical analysis, indicating cautionary indicators and weakened support.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.