OMGUSD: At top end wider sideways channel
This coin swing sideways between roughly 7.00 and 20.80 this year and has tested the top end recently and is backing off a bit.
However, the shape of recent bearish candles and lower volume suggests this move south implies no more then some technical profit taking. When looking at Fibonacci's, ideally dips toward 14.15/12.60 should be picked up. 15.70 is first support however.
For now it seems likely that bulls will provide another attack to that 20.60/20.80 area after this mild move south. A move on better volume with a close over 20.80 suggests the channel will flip putting a target at around 33.00/34.00.
However, the shape of recent bearish candles and lower volume suggests this move south implies no more then some technical profit taking. When looking at Fibonacci's, ideally dips toward 14.15/12.60 should be picked up. 15.70 is first support however.
For now it seems likely that bulls will provide another attack to that 20.60/20.80 area after this mild move south. A move on better volume with a close over 20.80 suggests the channel will flip putting a target at around 33.00/34.00.
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