BTC$19 095.25


ETH$1 331.94




USD Coin


Binance Coin




OMG Network Goes Up Along With the Ethereum Gang

August 2020

OMG Network, the rebranded version of OmiseGo, is another example of a cryptocurrency that got positively affected by the so-called DeFi craze, led by Ethereum, although from the fundamental standpoint, OMG is only indirectly related to the space of decentralized finance. In any case, fundamentally, the progress of OMG Network as the blockchain ecosystem, hence the development of its price, will depend on that of the second cryptocurrency and the expected launch of Ethereum 2.0, as OMG utilizes it as the final arbitration layer.

When Ethereum leads, OMG Network follows

However, as you can see on the comparison chart below, there have been some discrepancies lately between the price action of OMG and ETH that seem to have been closely correlated prior to the March market crash. Despite that, both cryptocurrencies agree upon the general direction of price development, so if Ethereum is to keep its bullish attitude, OMG Network is likely to follow its suit, perhaps with some lags.

OMG/ETH comparison chart

Regardless of its relations with Ethereum, over the past year, OMG Network had proven itself as a respectable gainer that had made a strong recovery after the coronavirus flash crash in March and gladdened the holders with 116% price appreciation in a year, and a superb performance over the past week when the value of OMG got inflated by 55.7%, which translated to a massive green candle you can witness on the weekly chart below.

1-week OMG/USDT chart

Here you can see that the price had predictably bounced off the support at $1.36 and headed upward, where it appears to be rejected at $2.6, the peak of the previous big bull rally that was reached last July. On the macro scale, though, the first serious resistance level stands at $3, the area of consolidation in the second part of 2018, before the price had sunk to the bottom completely.

Breaking that level to the upside would confirm OMG’s ambition concerning the secondary uptrend, which is a must, given the present market sentiment, if the altcoin wants to stay relevant. To achieve that, OMG has to make a final push through $2.6, which the price is likely to make next week, according to the showings of critical indicators.

Finally, let’s take a look at the 4-hour time frame to get the idea of how the price might behave in the next few days.

4-hour OMG/USDT chart

Here we see that the bears are about to start pressuring the price to the downside, while MACD and Stoch still remain bullish. The presence of a large buying volume, together with the shooting star candlestick suggests that the price will go into retracement within the designated channel as a part of the bullish flag pattern that is likely to resolve to the upside.

Author: Alex Paulson for


OMG Network (OMG): The Correction Continues
OMG Network (OMG): The Correction Continues
OMG Network: The Bullish Blast Leads to a Tough Correction
OMG Network: The Bullish Blast Leads to a Tough Correction
OmiseGo (OMG) Has the Wedge to Break
OmiseGo (OMG) Has the Wedge to Break
OmiseGo: Going on a Stop-Loss Hunt
OmiseGo: Going on a Stop-Loss Hunt
OmiseGO Rallying for Its Life in 2020
OmiseGO Rallying for Its Life in 2020
OmiseGO Price Forecast for November 2019
OmiseGO Price Forecast for November 2019

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 83.6% 28 $19 095.25 0.49% -4.82% $365 864 647 826 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.6% 56 $1 331.94 0.71% -8.41% $163 184 327 469 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $1.000074 0% 0% $67 959 697 977 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $1.000122 0.02% 0% $49 720 551 593 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 86.8% 17 $277.78 -1.12% -0.16% $44 816 623 769 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 63.2% 72 $0.488936 -0.60% 26.12% $24 372 838 519 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $1.000226 -0.02% 0.02% $20 521 880 085 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 82.4% 32 $0.456989 -0.44% -6.44% $15 641 937 626 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 81.6% 31 $33.96 0.41% 0.39% $12 044 646 131 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 87.6% 15 $0.063120 -3.40% 2.65% $8 374 180 689 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 74.4% 43 $6.34 -1.08% -9.42% $7 104 062 562 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92.4% 1 $1.000115 0.02% 0.02% $6 930 218 400 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 70% 54 $0.760974 -1.00% -7.31% $6 646 589 172 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 77.2% 42 $0.000011 1.90% -4.05% $6 254 513 839 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.