Price Analysis

Omisego (OMG), Ravencoin (RVN), Verge (XVG) Price Predictions: Any long Term Bullish signal?

Omisego (OMG) –Ravencoin (RVN) –Verge (XVG) Price predictionsThe crypto market is strongly entering this second week of the Q2 2019, with a mega weekend for Bitcoin, which managed to break the $ 5200 barrier without attempting to descend from its expected support level at $4900.

Although the rest of the altcoins are expected to have had better momentum. However, considering the efforts that investors concentrate on BTC making it to rise at the detriment of the alternative market, we must in this wise not downplay what happens to some certain cryptocurrencies that shows signs of interesting development in the medium and long term.

OmiseGo (OMG) Price prediction: A long Term Bullish signal?

At the time of writing, OMG presents a quoted price of $2.44 per unit, with a positive growth of + 5.54% in the last 24 hours. Its market capitalization is just over $342 million dollars, given it a seat at the box 26 of the general ranking, according to CoinMarketCap.

OmiseGo (OMG) Price prediction: A long Term Bullish signal?

In the long term, the cryptocurrency has an interesting pattern worth taking into consideration when analyzing its long-term outlook.

OmiseGo (OMG) Price prediction: A long Term Bullish signal?

As we can see, each maximum peak in the OmiseGo (OMG ) price has been accompanied by an increase in the value of the RSI to overbought levels. This makes us think that the rally that OMG is currently experiencing with its high level of RSI, is the beginning of reaching a historic high in the last few months in the middle of the crypto winter.

Such a scenario apart from being supported by the RSI indicator, has its support in the EMA 30 vs EMA 100 indicators, showing that we are in the middle of a bullish rally for OMG. Therefore it is to be assumed that the best is yet to come in the coming months.

This ascending channel projects a rise in prices of GMOs to R1 ($ 3.5) level. To achieve and stay above this resistance level, we could see by the end of Q3 2019 the cryptocurrency fly up to levels of R2 ($ 5, 00).

OmiseGo (OMG) Price prediction: A long Term Bullish signal?

Undoubtedly such a pattern is a new historical maximum for OMG, taking as a point of reference the performance in the middle of the crypto winter.

This projected scenario is affirmed by the Elliot Wave Triple Correction pattern, which has been in place since OMG made its pattern change to S1 support minimums ($ 1.12) in February of this year.

Ravencoin (RVN) Price prediction: A long Term Bullish signal?

Ravencoin (RVN) is the 35th cryptocurrency currently and thanks to a surprising rally that has taken it to historical highs, Ravencoin presents a price of $0.067 with a correction of -4.88% in the last 24 hours. Its market capitalization has grown to $220 million dollars with an intraday volume of just over $ 37 million and a half.

Ravencoin (RVN) Price prediction: A long Term Bullish signal?

In the long term, the cryptocurrency presents an encouraging picture. It has already broken the historical maximum and apparently it is going for a new one close to the dollar cent per unit.

The Stochastic indicator has been what it glimpses with its coincidence of oversold levels and maximum price peaks reached by altcoin in the past and the present.

As if that were not enough, Ravencoin is setting a new point of resistance at $ 0.10 that it is expected to reach for the long term by mid-year, if RVN is able to surpass its immediate ceiling of the triangle drawn between maximums and minimums for the month of May 2019 in the value of $ 0.087.

Ravencoin (RVN) Price prediction: A long Term Bullish signal?

This scenario is confirmed by the Elliot Wave pattern with its immediate projection at the end of the month for the key point ‘Z’ to reach R1 ($ 0.10) level. The support is maintained in S1 ($ 0.026).

Verge (XVG) Price prediction: A long Term Bullish signal?

The cryptocurrency focused on privacy, Verge (XVG) currently occupies the position 51 of the general ranking, with a spot price of $0.009616 per unit, + 7.16% in the last 24 hours that has led to capitalize a market greater than $ 152 million of dollars.

Verge (XVG) Price prediction: A long Term Bullish signal?

Like the rest of the altcoins presented, Verge has seen its long-term quotation grow, with an upward trajectory projected by Elliot Wave Triple Correction that would allow it to reach maximums of R1 ($ 0.012) per token by the end of the year.

Verge (XVG) Price prediction: A long Term Bullish signal?

This pattern is confirmed by the RSI indicator, which accumulates higher levels of RSI> 90 to be currently in the overbought area. This strengthens Verge (XVG) market in particular, and has a tendency of increasing exponentially in the nearest future.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Daniel Jimenez

Daniel is a profound technical analyst and an evangelist of Blockchain technology who resides in America. He has worked with numerous cryptocurrency publications after graduated as an Engineer from University of Oriente, Venezuela.

Email: daniel.jiminez@newslogical.com

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