OmiseGO is a strong coins, but every coin has it's ups and downs. I believe (of course I can be wrong) that OMG correction hasnt ended yet.
Yellow lines are the levels that should have the best response from the market.
Head And Shoulders pattern (which is often, if not always, irregular correction) indicates that we can fall as low as 60.618 sat. And HnS was confirmed by volume.
The red ABC flat correction could end on 124.644 sat, if that lvl is broken then 88.290 sat. After that 60.618 sat.
Let's move things one step further. I'm leaning more to the 60.000 satoshi side, than 124k or 88k. Here's why:
1) The 60.000 satoshi level is at major trendline
2) The market response is strong at this level (yellow lines are Fibonacci Clusters)
3) Head and Shoulders pattern indicates a drop to this area.
So there You go. It's more probable scenario than 124k or 88k level. And we have really small chance to drop below major trendline (I would say no more than 10%).
As usual, market will tell us in the future if that prediction is accurate or not.
1) The 60.000 satoshi level is at major trendline
2) The market response is strong at this level (yellow lines are Fibonacci Clusters)
3) Head and Shoulders pattern indicates a drop to this area.
So there You go. It's more probable scenario than 124k or 88k level. And we have really small chance to drop below major trendline (I would say no more than 10%).
As usual, market will tell us in the future if that prediction is accurate or not.