RATE Group | This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank
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This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank

27 May This Cryptocurrency Is Up 260% and It Seems to Have More Gas in the Tank

Posted at 16:16h in Cryptocurrency News by

Ever since Coinbase Pro revealed that it will be listing OmiseGO on its retail platform, this ERC-20 token has done nothing but shoot up. Since then, its price skyrocketed by more than 260%. OMG went from trading at a low of $0.62 to a new yearly high of $2.27.

Even though this cryptocurrency took a 30% nosedive in the past week, on-chain metrics reveal that the bullish momentum behind may not be over yet.

is OmiseGo Bound for Another Upswing?

Data from Santiment reveals that a bullish divergence appears to be developing between the number of daily active addresses on the OmiseGo network and the 21-day moving average. It is worth considering that the recent levels of volatility could have affected this technical indicator since it reflects the price action.

Nonetheless, Santiment maintains that this significant bullish divergence cannot be ignored.

“Four straight days over a +0.5 threshold means there is still a serious running average of major daily active addresses that price…

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