CryptoRetracement
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$OM /USDT – Bearish Retracement in Progress!
Momentum Analysis: OM has retraced by 2.34% in the last 24 hours, hovering at $0.6183, which is a key support level. With 24h volume showing strength in both OM (129.32M) and USDT (84.38M), this pair is under pressure as it approaches lower support levels. The price is currently testing the 0.618 Fibonacci level, with a strong possibility of further declines if this level breaks.
Short Setup: Entry Zone: $0.6183, Target: $0.5824 (T1), Stop Loss: $0.6338
Breakout Confirmation Level: $0.6667
Key Support: $0.5824
Pro Tip for Traders: Watch for signs of consolidation around the 0.618 mark; a break below could signal further downside, while a bounce could lead to a potential reversal.
Relevant Hashtags: #OMUSDT #CryptoRetracement #BearishMarket #FibonacciRetracement #AltcoinTrading
Momentum Analysis: OM has retraced by 2.34% in the last 24 hours, hovering at $0.6183, which is a key support level. With 24h volume showing strength in both OM (129.32M) and USDT (84.38M), this pair is under pressure as it approaches lower support levels. The price is currently testing the 0.618 Fibonacci level, with a strong possibility of further declines if this level breaks.
Short Setup: Entry Zone: $0.6183, Target: $0.5824 (T1), Stop Loss: $0.6338
Breakout Confirmation Level: $0.6667
Key Support: $0.5824
Pro Tip for Traders: Watch for signs of consolidation around the 0.618 mark; a break below could signal further downside, while a bounce could lead to a potential reversal.
Relevant Hashtags: #OMUSDT #CryptoRetracement #BearishMarket #FibonacciRetracement #AltcoinTrading
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