InstaForex

September 21, 2021

OMG! While the Market is on the Threshold of the Red Sea, Crypto Remains Positive

 OMG, the layer-2 (L2) built for this Ethereum blockchain showed a positive price after the crypto market was on the brink of a red ocean during yesterday’s trading session.


OMG exhibited good potential at the market opening this week, yielding a 47% jump to a recent high of $ 11.45.


Successfully climbed to 68th place in the crypto market with a market capitalization of over $ 1.5 billion.


Recently, OMG has been launched into the ‘Delta’ platform and has driven price movements to soar consistently.


📢 We've launched the $ OMG (@omgnetworkhq) Perpetual Swaps with up to 20x leverage.


Avail up to $,!


📈 Happy Trading: https://t.co/HgtfFOguTx pic.twitter.com/H59IajAoxy


- Delta Exchange - Bitcoin & Altcoin Derivatives (@Delta_Exchange) September 19, 2021


Interesting to look at the OMG/USDT chart which is the focus of investors.



When the OMG analysis article was released last June, OMG was trading at the $ 3.78 price level, consistently OMG has produced almost 280% jumps to date.


From a technical point of view, the price movement is seen to remain a bullish trend and is hovering in the $ 11.20 resistance zone.


If OMG remains on a bullish trend, it will break the $ 11.20 resistance zone and likely make a higher jump as well as make the latest consecutive highs.


However, if OMG shows a bearish trend, the $ 10 RBS (resistance become support) zone will be the next target to be tested whether to make a rebound or continue the decline to a lower level.


At the time of writing, OMG/USDT traded $ 10.95 up over 26% in the last 24 hours.