OmiseGo Plans To Rise After Trendline Breakout

OmiseGo showing some strength during the past week. It has managed to break above the downtrend trendline and on a corrective wave down it rejected it. Same happened with the RSI Oscillator breaking the trendline and then rejecting it.

Overall there are signs of emerging uptrend with the first target being near the previous resistance, the all-time high, which is at $13 area. It corresponds with the 327.2% Fibonacci retracement applied to the corrective wave after the trendline breakout.

Daily close below $6 support should invalidate bullish outlook and could extend the consolidation.

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