$OM COMPLETE TECHNICAL ANALYSIS & WHAT'S NEXT!
#OM woken from its slumber & bottom pit, it recently
saw an incredible increase of over 40%, zooming from 0.26
to 0.39 within just few hours.
Not too long ago, #OM saw the worst rug pull in Crypto history
erasing billions of dollars in blink of an eye, as the price dropped
from $6 to less than a $1 per coin.
$OM team blamed it on the triggered
liquidations by the Exchanges & investors doubted the
OM Team.
Leaving investors to scratch for clues as to what actually
happened, sufficient evidence made the team look like
alleged culprits, however truth still remains unknown &
OM still lives & breathes fire.
Could this Mantra be stronger than we would like to think?
Only time will tell.
Binance warned investors early on how OM contract was
updated to include mintable policy that red flagged the
coin, however few took heed & next is history.
Technical Analysis :
After it's bullish rally, $OM is now forming a falling wedge
pattern, which usually leads to a bullish breakout before
accumulation. Current main support remains at the order block
near 0.3208, which makes a good entry point for long.
With Stop loss below the MA(99) at 0.3018 &
first target respectfully at trendline resistance near 0.338,
then next three targets at near resistance zones at 0.352,
0.3728 & 0.3956.
Alternatively if price breaks above before reaching the
support zone, then it would be best to wait for a retest
before making a long entry.
Know your risks before investing. Wise decisions are
made with patience, composure and with thorough research.
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