OmiseGo (OMG), VeChain (VEN) and Cardano (ADA)

OmiseGo (OMG) price is correcting higher on Thursday after the sellers sought for equilibrium following the recent surge. The cryptocurrency is up more than 8% but the upside is capped below $19.00, besides, OMG/USD is trading within a ranging channel.

The price recently spiked breaking some key resistance areas at $16.00, $18.00 and $20.00 respectively. Moreover, the bulls pushed for higher corrections above $21.00 but the selling pressure overwhelmed the buyers leading to a slide into the ranging channel on the 30 minutes timeframe chart.

The buyers are, however, not giving up and at the moment, OMG/USD is trading at $18.46. OmiseGo (OMG) price is testing the resistance level at $19.00. A break above this level could pave the way for another bullish breakout above $20.00. However, at the moment, the short-term support is at $18.00. Below this, the price will find support at $17.00. Further down, $15.00 will prevent declines, although this is not a realistic target for now.

VeChain (VEN) Price Analysis

VeChain (VEN) price, on the other hand, is trading within an ascending channel. The price has breached the resistance level at $5.0, besides it is currently testing $5.4. Most coins and altcoins are consolidating after the April surge, but VEN/USD is not slowing down. The crypto is up over 6% in the last 24 hours, but it must seek a support above $5.00 to give it time to gain momentum to attack $6.00.

The price is dancing with $5.2 on the 1-hour chart, a short-term support has formed at $5.00. If the bulls fail to hold tight above this level, VEN/USD will be supported at $4.8. More support zones are highlighted on the charts at $4.6 and $4.2 respectively.

On the upside, $5.4 is a major hurdle as the price attempts to retrace higher. The next target is at $5.5, while the bulls are psychologically eyeing $6.00. Indicators on the same chart are pointing towards a bearish momentum in the meantime. The MACD is well above +0.1, however, it is beginning to point north.

Cardano (ADA) Price Analysis

Cardano (ADA) has been one of the biggest gainers in the month of April. The current consolidation is expected after a bull run that has seen ADA/USD trade above $0.38. The acceleration, has, however, slowed down with the upside capped below the previous peak at $0.3847. The moving averages signal higher consolidation, although the MACD is moving deeper into the negative territory to show that the sellers have the upper hand.

A recent slide from the peak broke below the key support area at $0.34, besides it tested another support at $0.32 but the price bounced correcting higher.

At the moment, ADA/USD is trading at $0.37, but $0.38 is a hurdle to the upside. Moreover, a break above this level could pave the way for the price to test $0.4. Significantly, $0.3700 is a highlighted support area. However, a drop below this level could encounter another support at $0.34. The 23.6% Fib retracement level with the previous swing high of $0.38 and a low of $0.12 close to $0.32 will work as a major support for ADA/USD.

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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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