OmiseGo (OMG), VeChain (VEN) and Cardano (ADA) Price Technical Analysis: The Bulls Remain Unstoppable

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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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