BTC$48 706.73


ETH$4 059.61


Binance Coin








OmiseGo: Going on a Stop-Loss Hunt

April 2020

The global crisis is far from being over, but at least we are now witnessing the consolidation phase that gives hope for further stabilization and recovery in the next few weeks. However, this optimism is based on the notion that there would be no significant shocks in all markets, not excluding the cryptocurrency ones, caused by another black swan or perhaps the worsening of the COVID-19 pandemic around the world that would only deepen the unfolding economic crisis.

OmiseGo tries to get out of the gutter

Sadly, the cryptocurrencies - OmiseGo in particular - have so far failed their mission of being a financial safe haven as 62% of its value had evaporated within as little as two days, resulting in OMG bouncing off the all-time low at $0.35 and landing in the current consolidation range between $0.43 and $0.55, which is also a part of the bearish flag from which the price is yet to make an exit.

1-day OMG/USDT chart

Although this particular flag formation appears to be overextended, which means that we might see the emergence of a mini uptrend that is likely to aim at the $0.6 price level, upon reaching which OMG would initiate another prolonged phase of consolidation above that support-turned-resistance line, with the ceiling for this consolidation zone being at $0.7. Obviously, this is a very optimistic scenario that would only become viable if the market won’t spring an unpleasant surprise on traders by going deeper underground, below the said all-time low. In case the price does go through the floor, there’s no way of predicting where it would find another bottom due to the absence of historical data for this particular region, thus no defined resistance levels.

Nevertheless, the main indicators on this time frame speak in favor of an upward move to the consolidation zone: Stochastic is chugging to 60, showing no intention of crossing over, which means that the market maintains the bullish momentum; MACD has impaled the signal line from the bottom up and began a gradual ascent from the extremely oversold region to -0.1, along with bulging green histograms, a sign of a further appreciation in the price of OMG.

Frozen in anticipation

Whereas it would take another week or so for the predicted move to take place, right now, the OmiseGo market is trending sideways, probably due to the absence of big players who would be capable of moving it in either direction. The presumption that big traders aren’t favoring OMG right now is substantiated by the minuscule volume on the smaller time frame and a slightly deteriorated average daily trading volume. 

1-hour OMG/USDT chart

There has been only one instance when large players have entered the market, which found its representation in a significant sell volume on March 20 that closed the price at $0.47.

It’s likely that this level will act like a magnet that would eventually pull the price in its direction, hitting the stop-losses of many scalpers who are concentrated on the movement within the current channel.

In this market condition, the whales are craving for liquidity, which means that the stop-loss hunting will be the name of the game in the coming days. In the first round, the price will move to $0.45 or slightly lower to kick those who used the support at $0.47 out of the market and then shoot up to $0.61 to hit the higher stops, and then descend to the designated consolidation area.

Author: Alex Paulson for


OMG Network (OMG): The Correction Continues
OMG Network (OMG): The Correction Continues
OMG Network Goes Up Along With the Ethereum Gang
OMG Network Goes Up Along With the Ethereum Gang
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 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 75.2% 50 $48 706.73 -9.26% -10.81% $920 132 432 479 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.4% 33 $4 059.61 -3.80% -0.61% $481 495 723 238 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 82% 32 $562.06 -5.77% -6.99% $93 752 606 143 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94% 1 $0.999843 -0.04% -0.10% $74 146 017 092 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.2% 62 $200.85 -6.55% 3.29% $61 387 860 524 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 64.8% 72 $1.41 -10.52% -9.18% $46 958 385 031 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 95.6% 2 $0.999385 -0.03% -0.05% $39 796 534 169 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 65.6% 70 $0.834001 -10.39% -11.92% $39 404 303 399 XRP 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 62.8% 76 $29.08 -14.58% -17.21% $28 721 201 555 DOT 7 days price change
10 Terra (LUNA) LUNA Terra predictions 66.8% 65 $71.05 5.47% 63.77% $27 565 404 822 LUNA 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 74 $0.175319 -12.61% -14.55% $23 209 784 837 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 64.8% 73 $90.70 -14.60% -19.51% $22 013 847 272 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.8% 73 $0.000037 -9.62% -5.62% $20 243 352 002 SHIB 7 days price change
14 Chain (CRO) CRO Chain predictions 57.6% 86 $0.595382 -5.97% -25.47% $15 041 152 356 CRO 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $0.999915 0.09% -0.01% $13 732 244 013 BUSD 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.

© 2015-2021

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.