OMG has had one of the worst drawdowns in altcoins since November. I lean towards a strong bounce to make up for the quick move down.
Over the next weeks/month(s), I think OMG should bounce back to retest resistance up in the $11.72-12.60 range.
I've marked out key dates for changes in price action. Entry at $3.79.
Let's see how it plays out.
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Just to be fully transparent, I exited all of my crypto positions after BTC just broke that low right now. I think there's too much risk that we fall further from here. I'll reassess the charts in May as I think that's when we'll see things shape up. Until then, good luck.
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Here's my reasoning for exiting. We'll need to see if this plays out from here: