OMG Network Price Prediction 2022 – Will OMG Price Hit $20 Soon?

This OMG Network (OMG) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our OMG price analysis and prediction.

There are various cryptocurrencies that rose to a new all-time during this 2022 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in OMG.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will OMG experience the same price volatility? We’ll find out shortly in this OMG price prediction 2022 article. But first, let’s have a look at what OMG is.

What is OMG Network (OMG)?

OMG network is known as OmiseGo, a non-custodial layer-2 scaling solution developed for Ethereum blockchain. Moreover, an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly quicker and cheaper than transacting directly on the ETH network.

Moreover, the network is related to a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to combine several transactions off-chain into a batch. Further, which could be verified as a single transaction on the Ethereum root chain.

As per the OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS). Rather than, 10 to 14 tps Ethereum 1.0 is currently capable of. Added to this, the network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network. This will slowly be stakable — helping to secure the ecosystem in return for rewards. 

Now that we are clear about OMG do you think OMG will be beneficial crypto in 2022? Join me and let us see the charts in this OMG price analysis and OMG price prediction.

OMG Current Market Status

As of the time of writing this OMG price analysis, OMG trades at $4.74 with a 24-hour trading volume of $302,651,954. The price of OMG has decreased by 6.26% in the last 24 hours.

Furthermore, OMG has a current circulating supply of 140,245,398.25 OMG. Currently, the top cryptocurrency exchanges for OMG are Binance, Kucoin, Bithumb, Gate.io, OKEx, Huobi Global, CoinTiger, and FTX.

Now, let’s go to the next part of this OMG technical analysis for 2022.

OMG Price Analysis

Currently, OMG holds 118th place on CoinGecko. But will the latest upgrades, development, and changes in the OMG blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this OMG price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for OMG/USDT, we can deduce that the price of OMG might experience a bearish run since it is already reversing after a breakout from the top part of the channel. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of 1-day chart is 59.91.  This shows that OMG Network is showing a strong trend since it is between 50 and 70. This value might trigger a bullish run soon since it seems that more buyers are repositioning as the value is moving towards the 70 RSI value which is the overbought region.

The 200-MA is above the 100-MA in the OMG/USDT 1day chart above. The gap between the two moving averages is not close, which means that the present long-term yield for OMG Network will be high, though there will be a bearish run since the 100-MA is already touching the last candlestick.

OMG Price Prediction

The chart below shows that OMG has performed great over the past few days. Moreover, the ONE price shows a bullish trend. If this trend continues, OMG might run along with the bulls, overtaking its $5.436 resistance level and moving higher to $13.191, a bullish signal for 2022.

Conversely, if the investors turn against the crypto, the bears might take over and push OMG from its uptrend position. In simpler terms, the price of OMG might decrease to almost $2.534, a bearish signal.

Meanwhile, our long-term OMG price prediction for 2022 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

OMG Network (OMG) Price Prediction 2022

If this bullish trend continues, OMG will reach $13.191 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $5.436. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $20 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

OMG Price Prediction 2023

If OMG holds an RSI above 50 by the end of 2022, buyers will then have ample time and stability to forge the next attack mission on the vital level at $45, making it not plummet but play consistently.

OMG Price Prediction 2024

If there will be more upgrades and developments in 2024, the OMG Network (OMG) price predictions and project forecasts may change. Moreover, these may boost the price of OMG. We can say that the price can still go bullish and spike up to around $100.

OMG Network (OMG) Price Prediction 2025

In the next four years, OMG Network prices could rise up to $200. However, reaching this level could not be so difficult for OMG as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OMG has a high possibility of reaching a new ATH soon in the next four years as per the prediction.

OMG Network Price Prediction 2026

In the next five years, OMG Network prices could rise up to $400. However, reaching this level could not be so difficult for OMG as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OMG has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Harmony has a bright future ahead of it in 2022. With the ongoing development happening within the OMG ecosystem, as well as in the overall crypto market, we may see OMG reach new heights.

Bullish OMG price prediction 2022 is $13.191. As said above, it may even reach $20 if investors have decided that OMG is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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