Omisego, Bittorrent, Dogecoin – The crypto market has been on constant movement this week, with strong influences on the ecosystem motivated by the rise of Bitcoin and the altcoins. Analyzing the lasting slight upward drive, we will review three cryptos that remain in the top 50 of the market and their possible behavior for April 2019.
Omisego (OMG) Price Prediction: Bull or Bear?
Omisego (OMG) is currently trading at $1.55 USD with a growth of 2.72% in the last 24 hours and a market capitalization of just over $217 million. Omisego (OMG)’s position (31st) in the global ranking could change in a matter of time if it manages to achieve better profits in a short time, staggering at least, a couple of other positions.
In the medium term, the cryptocurrency seems to have everything in its favor to ensure that the bulls continue to dominate the market. On the one hand, its upward trajectory secured the anchoring of the cryptocurrency in its current price as a possible support point since a predictable EMA crossing is about to occur to generate more momentum on the upward trend.
The average minimum price expected by OMG for March is $ 1.41 per unit and its behavior is expected to follow the Elliot trend (orange line) for the month of April 2019.
Its maximum resistance is located at $ 1.96, 50% of what was expected for its annual average. This means that if it is achieved in no times, we could be anticipating for the end-of-the-year scenario by the end of Q2 2019.
Omisego level of support for the worst case remains at $1,155. However, the Chaikin Money Flow (CMF) indicator is showing an upward trend at the time of writing for the 1D chart, which allows inferring slightly that there are probabilities that its April price fall to this level of support.
With regard to the short term, the outlook is even more encouraging for OmiseGo. Its strong bullish trajectory after the crossing of EMA 25 with EMA 100 on March 20 @ 13:00 has indicated that the key support S1 ($ 1.53) can be easily overcomed and continue a journey towards the level of resistance for the rest March up to $ 1.65.
The CMF indicator continues with more strength upward, and it is already in the purchasing zone with a behavior targeting the “overbought” levels to achieve higher profit margins for short-term investors.
BitTorrent (BTT) Price Prediction: Any Chance to Hold The Bull by the Horn?
It is currently the 45th cryptocurrency by global ranking, which in a short time, BitTorrent came to be positioned within the top 50, thanks to the support of the largest exchange for its launch.
Its price at the time of writing is $0.000816 per token, with a -0.23% reduction in its price in the last 24 hours. Its market capitalization is almost $140 million dollars. Although BitTorent (BTT) generally has a downward trajectory, given its ‘inflated’ price at the moment of launch, we believe that it is in good time and at a good level for ‘realistic’ prices.
The price is expected to make the projected Elliot trajectory with maximum levels of $0.000936 reached in the remainder of March, thanks to the upward momentum after crossing the EMA values a couple of days ago.
The projected sine wave allows inferring an average price of around $ 0,00087 in April 2019, a moderate value of 3% higher than its currently quote.
Its lowest level is anchored to the support level of $0.000805, and this is critical for BTT in the sense that if it reaches this point and does not drive lower in April, its medium-term future is defined over this band.
The Aroon Uptrend indicator that allows inferring the upward trend is in the background to leave for a directional move towards the north, since its counterpart has already begun to fall.
The Awesome Oscillator indicator has already begun to draw bullish levels, projecting a change of pattern in the green histogram in a positive direction.
The purchasing pressure has began to outperform the bear shown by the RSI indicator on the chart above the 50 levels.
As we can see, BitTorrent’s bullish pattern is clear and so are short-term indicators.
Dogecoin (DOGE) Price Prediction: A Possible Bull Run?
At the time of writing Dogecoin (DOGE) presents a quotation of $0.002073 USD per unit with a negative change of 0.69%, making it feel possible displacement threat from USD Coin off the box 26.
Its market capitalization is around $246 million .
The preferred currency for exchange bridge with other cryptos is threading an upward trajectory, after crossing EMA for 30 days and a solid support of candles above the entry point of $0.00204 USD.
According to the Elliot Wave Triple pattern (wxyz), it is expected that the cryptocurrency will again achieve the price of R1 ($ 0.00224) for the month of April 2019. The worst scenario is projected be around the average price of the bullish support of $0.00204 USD.
According to the RSI indicator above the level of 50, a price correction of $0.00204 will occur soon and then a recovery up to 10% for the next month.
In short term, DogeCoin is presenting a descending rally with a fall in the next few hours to levels close to S1 ($ 0.00204), but it is only a correction to reach out for a rebound. Therefore it presents an ideal entry level to have profits at a good level for the next month.
The Aroon indicator has started to draw the price correction with an Uptrend heading to the bottom and the downward crossing of the EMA indicators in the short and long term.