OMG Network Price Prediction 2023-2030: Will OMG Price Hit $1 Soon?

• Bullish OMG price prediction ranges from $0.883 to $0.989.
• OMG price might also reach $1 this 2023.
• OMG’s bearish market price prediction for 2023 is $0.239.

Claiming to offer a scaling solution for Ethereum, OMG Network enables users to easily transfer ETH and ERC20 tokens for transactions directly in the Ethereum network. Despite providing a faster and cheaper option, OMG Network guarantees that the same security feature of Ethereum would remain intact.

If you are interested in OMG’s price forecast and analysis for the years 2023, 2024, 2025, 2026, 2027, until 2030, continue reading OMG’s price prediction article.

OMG Network Market Overview

What is OMG Network?

OMG, as described on its website, is a decentralized, public network that allows high throughput low-cost peer-to-peer transactions. One of the main focuses of OMG Network is to allow users to transact easily irrespective of geography, asset classes, and applications. 

OMG Network boasts itself as the first production-grade layer-2 Ethereum scaling solution. According to the documents, OMG Network utilizes the More Viable Plasma protocol to implement the scalability features. CoinMarketCap also reports that the OMG Network was founded by Vansa Chatikavanij and operates as a subsidiary of SYNQA.

OMG Network’s utility token, OMG, helps the network and can be used as a payment method for fees and reportedly could be used to secure the network through staking.

OMG Current Market Status

OMG is already ranked in the 297 position based on its market capitalization, according to CoinMarketCap. The current circulating supply of the OMG platform’s native token is 140,245,398 OMG, while its total supply is 140,245,398. 

Moreover, OMG is priced at $0.4648, experiencing a 2.15% fall in seven days. With a market cap of $65,195,359, OMG also experienced a 3.44% surge in 24 hours. Moreover, the trading volume is valued at $15,157,787, after experiencing a fall of 26.89%% in one day, indicating that the demand for this token is reducing.

Some of the top crypto exchanges for trading OMG are currently Binance, Bitfinex, Kraken, and KuCoin. 

Now, let’s dive further and discuss the price analysis of OMG’s native token, OMG, for 2023

OMG Price Analysis 2023

Will OMG’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the digital asset industry affect OMG’s sentiment over time? Read more to find out about OMG’s 2023 price analysis.

OMG Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

The candlesticks continue to move downwards while still remaining near the bottom half of the Bollinger Band.  In between, the candlesticks reached the top half of the Bollinger Band, however, it fell soon after into the bottom half of the indicator. The BBW also confirms that the Bollinger Band may continue to remain stable for some time. 

OMG Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as the overbought region, and traders expect the price could fall soon.

The RSI is currently valued at 41.76, which is close to the weak trend region. Although the RSI is above the SMA, there is a chance that it may fall below it forming a bearish cross. The bearish crossover could continue to make OMG fall down for some time. Since the RSI is placed horizontally, it could either move up or downwards, hence, traders need confirmation before trading.

OMG Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data.

Looking at the chart, the MACD indicator still forms minute bars. Currently, it forms green bars and seems to be small. However, it’s still too early to determine that green bars could be a sign of a bull trend. If more green bars continue to form it has the potential to reach new levels. Moreover, the distance between MACD and the signal is small, hence, there is a potential for a reversal.

OMG Price Prediction 2023-2030 Overview

OMG Price Prediction 2023

Recently, the candlesticks fell below its support as it continues to face a downtrend. There may be a chance OMG may start to climb as a means to secure its position near the support. However, at the same time, OMG could continue to fall and the current support level could become a resistance level. Traders need to wait for more candlesticks and trend confirmation before entering the market.

Meanwhile, the forecast for OMG remains to be bullish and is expected to reach beyond the level of $0.989. The bearish price prediction for OMG ranges from $0.23 to $0.17. However, on the off chance, that OMG experiences an extremely bullish sentiment again, there is a high possibility that it trade beyond the level of $1.

OMG Price Prediction – Resistance and Support Levels

Looking at the charts, the candlesticks is currently trading near the support line after facing a subsequent fall. In order to recover, OMG needs to reach the Resistance 1 level soon. Moreover, the price action movement was mostly observed between Resistance 1 and the support level. For a bullish sentiment, the altcoin needs to significantly trade above Resistance 1. 

OMG Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. OMG could also be affected by Bitcoin halving and could trade beyond the price of $1.53 by the end of 2024.

OMG Price Prediction 2025

OMG could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, OMG will continue to rise in 2025 forming new resistance levels. It is expected that OMG would trade beyond the $1.856 level.

OMG Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, OMG could tumble into its support region of $6. Moreover, when OMG remains in the oversold region, there could be a price correction soon. OMG, by the end of 2026, could be trading beyond the $2.67 resistance level after experiencing the price correction.

OMG Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. OMG is expected to rise after its slumber in the bear season. Moreover, OMG could even break more resistance levels as it continues to recover from the bearish run. Therefore, OMG is expected to trade at $2.98 by the end of 2027.

OMG Price Prediction 2028

Once again, the crypto community is looking forward to this year as there will be a Bitcoin halving. Alike many altcoins, OMG will continue to form new higher highs and is expected to move in an upward trajectory. Hence, OMG would be trading at $3.87 after experiencing a massive surge by the end of 2028.

OMG Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, OMG could be trading at $4.32 by the end of 2029.

OMG Price Prediction 2030

After witnessing a bullish run in the market, OMG and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, OMG could be trading at $4.21.

OMG Price Prediction 2040

The long-term forecast for OMG indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, OMG may face a slight fall before starting its upward journey once again. It is expected that the average price of OMG could reach $9.12 by 2040.

OMG Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, OMG could surpass the resistance level of $23.22.  

Conclusion

To summarize, if investors continue to show interest in OMG and add these tokens to their portfolio, then, it could continue to rise up. OMG’s bullish price prediction shows that it could pass beyond the $0.9 level. Moreover, OMG could surpass the $23.22 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.