Well news are two:
1. OmiseGO at current marketcap is undervalued compared to other cryptos as it's an easy top 8 project. This means a 8 - 12 Billion marketcap. I see price growing from 5x to 7x from where we are now.
2. . OmiseGO has been correcting since last months and bottomed at 5.5.
At 5.5 all indicators turned as we can see from the different pairs:
Lets start from OMG/USD:
Price bounced at historical support, drawing higher highs and higher lows.
At the moment we are facing upper channel resistance
Looking at the chart below we can see a divergence:
Definition of divergence: We have a when the price makes lower bottoms on the chart, while your indicator ( in this case) is giving you higher bottoms. After a pattern, we are likely to see a rapid price increase.
Nevertheless we have broke daily MA50 and price eyes next resistance daily MA100
Looking at the chart below we can see a and a double bottom:
Price broke daily MA50 and is facing resistance of daily MA100
These are all reversal signals that a trader must recognize.
Based on what written above about marketcap.
I consider OmiseGO an easy top 8 project.
In terms of price this would mean a 5x to 7x.
short term target
OMG eyes 50s target
1]OMG has been following the market with the BTC crash. I feel like we are at the bottom at present and the worst is over. alts are starting to recover.
2] Some tweets by Jun about DPoS coming next year are promoting buy volume as people aim to stock up on OMG with the aim of running a masternode. The minimum requirement is unlikely to be below 1000, which means those interested will possibly cause a noticeable increase in buyvol.
Thank you for your analys. Almost got a friend to get OMG but shes sooooooooo afraid, already missed out on 100% gains in a week. Still trying though...