OMG written off by whales - critical moment for rebound

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0x.dawg
Dec 23, 2020

End of November we saw YUGE dump by whales and dolphins in OMG on-chain data:

This dump coincided very well with an ambiguous MVRV peak as well as a price top:

The MVRV peak occurred about a day before the whale selloff began and was followed a few days later with a confirming neg. peak in NUPL:

OMG is now at its last and most fundamental support. If this support at 2.60 USD breaks we can then expect a tidal shift as many remaining holders will exist with profit or loss. If no bounce occurs before the end of the year holders might be better of derisking.

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0x.dawg
Dec 23, 2020

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