OMG logarithmic support/resistance Idea path
Just a look at our up coming ascending resistance lines and potential for some major gains in the near future.
On the chart we are also creating what appears to be an inverted head and shoulders pattern which has nearly completed as well as a potential cup and handle within that same formation. Both very bullish setups overlayed almost directly on top of each other.
OMG has mostly missed out on the beginning of this cycle of $$ entering ALTS so investors liquidating positions from other projects that may have temporarily exhausted their runs will be scouting out the next up and coming parabolic moves and OMG fits the bill for new investors and traders who are keeping a watchful eye on this token which has made each one of its moves in a very powerful flagpole movement.
It's recent buyout by GBV for $100,000,000 and GBV's instant partnership with Enya tells me this buy out was worked out before hand between these two companies for a very specific purpose and niche field that has identified plasma as their ideal vehicle. And now with their latest AMA describing their change of focus to encrypted multiparty computations using Enya I believe we will soon see a new investment rush to OMG once investors realize the potential use case this and niche field this fills.
OMG is currently also working on fast exits from their plasma chain to more adequately be used as a layer 2 for exchanges to reduce Eth congestion, increase erc20 token transfer speed and reduce gas fees by a significant amount. Until fast exit is implemented the exchanges are unlikely to partner or adopt this layer2 solution but the moment it is released I expect a tidal wave raise this token past it's ATH where it will enter price discovery and likely stall out at the top ascending resistance line.
This is just my idea path, feel free to pick at it or adopt portions to your own chart
On the chart we are also creating what appears to be an inverted head and shoulders pattern which has nearly completed as well as a potential cup and handle within that same formation. Both very bullish setups overlayed almost directly on top of each other.
OMG has mostly missed out on the beginning of this cycle of $$ entering ALTS so investors liquidating positions from other projects that may have temporarily exhausted their runs will be scouting out the next up and coming parabolic moves and OMG fits the bill for new investors and traders who are keeping a watchful eye on this token which has made each one of its moves in a very powerful flagpole movement.
It's recent buyout by GBV for $100,000,000 and GBV's instant partnership with Enya tells me this buy out was worked out before hand between these two companies for a very specific purpose and niche field that has identified plasma as their ideal vehicle. And now with their latest AMA describing their change of focus to encrypted multiparty computations using Enya I believe we will soon see a new investment rush to OMG once investors realize the potential use case this and niche field this fills.
OMG is currently also working on fast exits from their plasma chain to more adequately be used as a layer 2 for exchanges to reduce Eth congestion, increase erc20 token transfer speed and reduce gas fees by a significant amount. Until fast exit is implemented the exchanges are unlikely to partner or adopt this layer2 solution but the moment it is released I expect a tidal wave raise this token past it's ATH where it will enter price discovery and likely stall out at the top ascending resistance line.
This is just my idea path, feel free to pick at it or adopt portions to your own chart
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