$OM 😱😱😱
Fall from 6$ to 0.4$ 😨🥶🥶
Fundamental Analysis and Reasons for the Fall
As mentioned in my previous response, the drop in OM/USDT from $6 to $0.5 can be attributed to several speculative factors based on market sentiment:
Profit-Taking by Large Holders: After OM reached an all-time high, whales likely sold off their positions, triggering a cascade of selling.
Large Transfers to Exchanges: Reports of over $590 million in OM being sent to exchanges suggest mass selling by big players.
Weak Buyer Support: Technical patterns (like the sharp drop on the chart) indicate a lack of buying pressure to support the price.
Whale Manipulation: Some speculate that whales pumped the price to distribute tokens at a high, then sold off, causing the crash.
Should You Take a Long Position?
You can take a long position at 0.52659, but with strict risk management:
Entry: 0.52659.
TP1: 1.0000,
TP2: 1.2059.
SL: 0.4000 (or 0.4500 for tighter risk).
Position Size: Use a small position size due to the high volatility and risk of further downside.
