Analysis on the Daily Chart (1D) - Part 2 of 2

crypto: $OM

4. Daily Indicators

MACD

In positive territory (histogram above zero), indicating bullish momentum. However, if the price continues to correct over the coming days, keep an eye out if the lines (DIF and DEA) get too close or cross downward, signaling a loss of momentum.

RSI(21)

Close to 70, a zone often considered “overbought” on the daily chart. It doesn’t necessarily mean to sell, but it does imply the asset has risen quickly and may see sideways movement or a pullback before resuming its rise.

Volume

There was a spike in buying volume on the breakout candle (up to 8.20). Since then, volume appears to have diminished. To confirm a bullish resumption, it’s important to see increasing volume again on a potential move above 7.50–8.00.

5. Possible Short- and Medium-Term Scenarios

Continuation of the Uptrend

If the price remains above 7.00 (ideally above 7.20) and breaks 8.00–8.20 on higher volume, we could see the rally continue. The next target might be previous highs or Fibonacci extensions above 8.50–9.00.

Deeper Pullback/Correction

If it loses 7.00 and drops toward the EMAs (6.80 or 6.20–6.30), that still does not invalidate the medium-term bullish trend but characterizes a bigger daily pullback.

If selling volume increases during this process, be alert to possible reversals or greater volatility.

Conclusion

On the daily chart, the structure remains bullish. However, after a strong move up and with an elevated RSI, it’s natural for the market to take profits (correct) or consolidate sideways for a few days. The 7.00–7.20 area is critical: if it holds as support and buying resumes, the uptrend can continue. Otherwise, testing the EMAs (6.80 and then 6.20) is the next likely step on the daily chart.