The OmiseGo / Ethereum pair is relatively new on the market. Thus, it is expected that the pair does not yet have a clear trend. However, new markets can identify ranges that experienced traders can use. These ranges appear when participants accumulate positions and determine the initial levels of support and resistance.
For the OmiseGo / Ethereum pair, resistance was determined when the market could not move above 0.025 on November 8, 2017. The lower end was determined on December 12, when the market went to 0.01488025. After three days, the market kept its support at 0.0155. The range has been set.
Technical analysis shows that the market continues to relate to resistance at 0.025 and maintain at 0.0155.
Therefore, the strategy is a classic purchase of support and selling resistance. Buy as close as possible to support at the level of 0.0155 for the purpose of selling at 0.025
Daily schedule for OmiseGo / Ethereum at Poloniex
At the time of this writing, the OmiseGo / Ethereum pair is trading at 0.01676876 at Poloniex.
