OMG/USD - Approaching $11 resistance point, then ATH?

OMG/USD – Approaching $11 resistance point, then ATH?

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.

Why?

MACD 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.

The weekly indicators are all bullish for now, no reason to expect any major downturn.

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.

We still need more volume , but that should come as the market is heating up again. Trade safely.

Like and follow if you liked this idea! Also join my crypto community to stay in touch!