OMG Network with ticker OMGUSD nicely stabilized and the end of 2023, clearly within a five-wave bullish cycle that belongs to first leg (A)/(1) of a minimum three-wave (A)/(1) - (B)/(2) - (C)/(3) recovery.
Since the start of the 2024, we have seen slow, choppy and overlapped decline, which clearly looks like a correction, ideally W-X-Y complex one in wave (B)/(2) that stopped and perfect former wave 4 support near golden 61,8% Fibonacci retracement.
By current sharp bounce back above the trendline, seems like OMG is looking for a larger recovery within wave (C) or (3) that can retest at least the December 2023 highs for wave (C) or it will go even higher for wave (3).
Since the start of the 2024, we have seen slow, choppy and overlapped decline, which clearly looks like a correction, ideally W-X-Y complex one in wave (B)/(2) that stopped and perfect former wave 4 support near golden 61,8% Fibonacci retracement.
By current sharp bounce back above the trendline, seems like OMG is looking for a larger recovery within wave (C) or (3) that can retest at least the December 2023 highs for wave (C) or it will go even higher for wave (3).
Comment:
OMG Network is coming nicely higher within wave C or 3 as expected!
