Analysis and Trading Recommendations for Currency $OM on Binance
Market Analysis:
After the price of $OM collapsed by 90% on April 13 (from $6.30 to less than $0.50), the currency is currently trading at $0.53, with modest recovery signals. MANTRA announced a plan to burn tokens worth 160 million $OM to enhance confidence and stabilize the price.
Key Entry Points:
Gradual Entry: at $0.48-0.50 (strong support level)
Accumulation: at $0.55 with increased trading volume
Breaking Resistance Level: upon exceeding $0.60 with large volume
Target Exit Points:
Near Target: $0.65 (+22%)
Medium Target: $0.75 (+41%)
Stop Loss: below $0.45 (-15%)
Strategy:
Divide capital into three phases with trailing stop-loss orders. Monitor team announcements regarding token burns and upcoming developments to adjust trading strategy.