Can OMG/USD Break Above the Trading Range to Push the Market Back Above $4?

OmiseGO, over the past 24 hours, has seen a small price increase totaling 2.83%. OMG, the cryptocurrency behind OmiseGO, is currently trading at a price of $3.54.

The OMG/USD market has been trading in a sideways manner over the previous 4 weeks, as traders wait patiently for a positive break toward the upside.

The technical indicators have recently swung in favor of the bulls which could indicate that the OMG/USD market is priming itself to break above the range.

OMG currently holds the 23rd position in terms of overall market cap across the entire industry. It has a market cap value of $495 million after the 15-month old coin saw a 46% price decline over the past 90 trading days. The current price of OMG is 86% lower than its all-time high (ATH) price.

OmiseGO Price Analysis

OMG/USD – LONG TERM – DAILY CHART

Analyzing the market from the long-term perspective above, we can see that the OMG/USD market had experienced a bullish wave when price action began from a low of…