Crypto: $OM
1. Main Trend
Alignment of EMAs (9 / 21 / 42 periods):
EMA(9) ≈ 6.82
EMA(21) ≈ 6.18
EMA(42) ≈ 5.37
They are all sloping upward, and the price (~7.28) remains above all of them. This alignment (short EMA > medium EMA > long EMA) reinforces a medium-term bullish trend.
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2. Recent Behavior of Daily Candles
There was a strong buying move, taking the price up to 8.20 in a large green candlestick.
Then, a few red candles appeared, suggesting profit-taking and/or a pause after the rally.
The most recent candle (around 7.28) is relatively small compared to the strong green candle, indicating a possible consolidation above 7.00–7.20.
On daily candles, corrective moves can last several days, so watch whether the price continues to hold above 7.00 to confirm a healthy pullback rather than a trend reversal.
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3. Daily Support and Resistance
Resistance around 8.00–8.20: This is where the price recently encountered supply (sellers). A breakout above this level with high volume could trigger another leg up.
Immediate support around 7.00–7.20: A key zone to watch whether the price will consolidate and climb again or lose this level.
Main supports at the EMAs:
~6.80 (EMA 9) – the next “defense point” for buyers if 7.00 is broken.
~6.20–6.30 (EMA 21) – a more significant support for the medium-term trend.
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4. Daily Indicators
1. 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.
2. 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.
3. 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.
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5. Possible Short- and Medium-Term Scenarios
1. 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.
2. 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.
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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.