Technical view:
We can see a classic ABCD pattern on OMG.
B to C leg is a 0.618 retracement from the A to B leg.
C to D leg will be a 1.272 extension of the B to C leg, conform the ABCD theory. This makes an estimated target of around $16.
A to B lasted 61 days, so C to D will likely last 61 days and reach target around new years eve.
We also broke the ichimoku cloud and are in bullish zone.
Fundamental view:
Omisego hasn't been hyped since the initial pump to $13, and has been in a downtrend & accumulation phase for a long time, with an all time low of $5 (!) after the pump.
Omisego has interesting developments upcoming. While the management team is not actively marketing (i.e. pumping) the price too soon, core wallet SDK will be released soon and partnerships are made on an active basis.
For 2018 major roadmap developments are coming regarding the cash/in-out system and Decentralised exchange (DEX) with token staking possible.
conclusion: Omisego is a quality project with extremely good fundamental value. $16 as a target is quite likely, but may not even be the top for OMG from 2018 and out.
We can see a classic ABCD pattern on OMG.
B to C leg is a 0.618 retracement from the A to B leg.
C to D leg will be a 1.272 extension of the B to C leg, conform the ABCD theory. This makes an estimated target of around $16.
A to B lasted 61 days, so C to D will likely last 61 days and reach target around new years eve.
We also broke the ichimoku cloud and are in bullish zone.
Fundamental view:
Omisego hasn't been hyped since the initial pump to $13, and has been in a downtrend & accumulation phase for a long time, with an all time low of $5 (!) after the pump.
Omisego has interesting developments upcoming. While the management team is not actively marketing (i.e. pumping) the price too soon, core wallet SDK will be released soon and partnerships are made on an active basis.
For 2018 major roadmap developments are coming regarding the cash/in-out system and Decentralised exchange (DEX) with token staking possible.
conclusion: Omisego is a quality project with extremely good fundamental value. $16 as a target is quite likely, but may not even be the top for OMG from 2018 and out.
