After reviewing the movement of the OMUSDT currency on the short and medium timeframes, we notice the emergence of negative signals indicating the possibility of continued decline in the coming hours.
The price has failed to break through the strong resistance at 0.5350 – 0.5380, indicating strong selling pressure.
The Relative Strength Index (RSI) is trading near the overbought zone, which increases the likelihood of a downward price correction.
The moving averages (EMA7 and EMA25) indicate a negative crossover, supporting the scenario of continued decline.
The trading volume has decreased with each attempt to rise, indicating weak buying momentum.
Based on this information, the price is expected to target the following support levels:
The first level at 0.5280
The second level at 0.5200
With the necessity to monitor the break of these levels, as breaking the support may push the price towards lower levels.
Note:
This analysis does not constitute investment advice, and every trader should conduct their own research and manage risks wisely.
$OM #om
