What Happened With OM? Scam or Just a Mega Crash?

Current Price: $0.4530 (-6.69%)

Peak Price Before Crash: $6.8680

Crash Depth: -94.5%

Overview:

OM token saw a brutal collapse from $6.86 to $0.37 in just a few candles – a shocking drop that raised red flags across the crypto community. Was this a rug pull, a smart contract failure, or just extreme market manipulation?

Support Levels:

$0.37 (absolute bottom)

$0.45 (current weak support)

Resistance Levels:

$0.497 (7 MA)

$1.75 (25 MA, major psychological resistance)

Indicators:

RSI: 13.10 – Extremely oversold (panic zone)

MACD: Still bearish, though histogram is showing signs of reversal

Volume: Dried up – buyers hesitant to enter

Trading Strategy:

Entry: High risk – only for aggressive speculators near $0.37

Exit: Watch $0.50–$0.70 for any relief rally

SL: Tight stop-loss below $0.35 in case of another dump

Future Prediction:

Unless a strong recovery narrative or exchange update surfaces, OM may stay in the danger zone. Watch for official Binance announcements or project news to confirm if this was a technical error or a full-on scam exit.

Disclaimer: DYOR. This is not financial advice.