OmiseGo Price Analysis

Super optimistic about this new project you guys. OmiseGo is going to be a very interesting experiment in the cryptocurrency space. Their mission is to bridge the gaps between fiat and crypt by allowing seamless and fast money exchange between the two. You can check out their full project here: https://omg.omise.co/

Today OMG is a one of the biggest gainers up about 68% right now:

On today's chart I use a new trading tool called "Stochastics" and I'd like to give a shout-out to @pok8rok8 for showing how to use this amazing trading tool in one of his articles. In short it indicates when a market is "Oversold" or "Undersold" and gives a good gauge of entry points. There is some definite FOMO (Fear Of Missing Out) today with this new coin that many are just discovering as the main demand is actually overseas primarily in the Asian markets as for now.

You will note that we are a bit oversold and that the retracement targets are at the red, yellow and green levels. If I were to buy back in I would wait for the price to fall back closer to $1 even because that is a very likely price target.

TLDR Version:
OMG is in a hype cycle today. It might continue to rise but as for right now it is extremely oversold and due for a correction back to its moving average, which should put it somewhere around $0.97- $1.05. This project holds a lot of potential for the future crypto markets :) Definitely a long term hold for me.

Price Target:
Between $1.13-$1.26 by end of the day