OMG has done a fantastic rally in the past two months. However, we are approaching a key resistance around $11 which may lead to some profit taking and a short pull-back in price.
This would also coincide with the 2,400 satoshi resistance (see my BTC pair chart below).
However, I don’t expect us to lose our major support and OMG should continue to grind its way up as soon as we clear the $11-12 resistance.
We STILL did not reach our old ATH in dollar value of $28. As such, I believe this is a likely target in this second bull rally on the crypto market. Therefore selling around $11 may be premature. There is a good chance we will get a higher price level.
on weekly crossed to the positive side three weeks ago, last time this happened the bull trend lasted for 14 weeks for OMG or just over 3 months. So if anything, we could see a nice rally until December. For sure one should take profit around the old ATH . Beyond that is anyone guess, but lets be patient and reach those levels. First we need to pass $11 and make it support.
If you are after a quick profit, then selling at $11-12 and buying around $7-8 is a good strategy. Nothing to fuss about a 50% gain.
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