I was looking at the chart of OMG and I immediately saw this beautiful purple cup with a forming handle. The trend is sideways to downward for the moment (mostly downward), so that the handle can be formed. You can also see that confirmed in the MACD (death cross on the daily) and clear overboughtness in the RSI.
This makes me to believe that we are likely looking at an almost textbook cup & handle, that shall have to retrace back up soon to the 195877 satoshi area. If that resistance area is broken, we are in for some serious upward potential.
Next targets would be around 221670 at and 247463.
BUT, we are not there yet, first expect some reddish candles to steal the show.
Let’s stay tuned, watching closely from the sidelines.
Recently OmiseGO hosted a Blockchain Development Workshop with Ethereum Foundation and about 30 developers in Bangkok. Topics discussed included smart contracts, state channels, PoW, PoS, and why blockchain. With a presentation of Vitalik Buterin!