Reddcoin

OmiseGo (OMG), Status (SNT) & ZCash (ZEC): Volumes indicate a possibly sustained uptrend


OmiseGo (OMG)

General overview

OmiseGo is one of the best performing cryptos at the moment, having announced that it is pushing for partnerships in South Korea.   This seems to have excited the market, and created a strong demand for this crypto.  This is evident in last week’s price action where OmiseGo opened at a low of $9.4, and closed the week at $14.14. This confirmed a bullish reversal after several weeks in the red.   This has pulled in more investors into this crypto, as is evident in bullish momentum that is currently characteristic of the OmiseGo price action. It opened the day at $14 before hitting highs of $16, and the upside momentum is still there.

 OMG Price projection for the next 24 hours

In the next 24 hours, OmiseGo looks poised to edge higher, with the 21 day moving average crossing above the 50 and 100 day moving averages on the hourly charts, which is usually an indication of increased price momentum. OmiseGo could hit highs of around $18, which is the next resistance level. On the lower side, the 200 moving average will act as support at the $12 price level, though this is highly unlikely, if the current increasing volumes are anything to go by.

Status (SNT)

General overview

Status coin has been on a sustained bull run in the last 3 weeks, with price edging from a low of 0.00001097 BTC to the current price of around 0.00001648 BTC. Volumes too have been on the rise, which is indicative of increased investor interest.   The most possible drivers to this Bull Run are the recent gains in the entire market. It is also being driven by a couple of positive news from the Status team.

SNT Price projection for the next 24 hours

In the next 24 hours, Status will most likely gain, after it released some notes about the Status alpha 0.9.17, a few hours ago. As more people go through them and learn of their potential to the SNT platform value, trading volumes will increase.  A price surge could see Status get to around the 0.00002730 BTC price level, a level at which price has ranged in the past.

ZCash (ZEC)

General overview

ZCash is up over 7% in intraday trading, after several weeks of low trading volumes. In the daily charts, ZCash is showing signs of a possible bullish reversal after price went up from $221 to $242 after several days of trading in a range. Volumes too are on the rise moving from $50 million 48 hours ago, to the current volumes of over $67 million. That’s an indication that investors are taking an interest in this crypto, after several months in the red.

Price projection for the next 24 hours

ZCash is currently trading above yesterday’s close of $242, indicating that there is strong demand for this crypto at the moment. This rise is likely to be capped at around $269 which sits on the 55-day moving average. A break above that could be indicate a sustained uptrend in coming days.


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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
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