🚨 Potential Trading Setup Alert for OM Token over One Day
📉⚠️🔥📊
📌 Commentary: After a sharp collapse of over 90% on April 13, where the price dropped from $6.35 to $0.37, the OM token has started to show signs of recovery. In recent days, the price has risen by 25%, supported by the team's announcement of token burn allocations, which has restored some confidence in the market.
📊 Trading Setup:
🎯 Entry Price: $0.66
🎯 Price Targets:
🟠 $0.75
🔴 $0.90
💀 $1.20
🚫 Stop Loss Level: $0.58
📈 Risk to Reward Ratio: High | Reward = Potential
📉 Technical Indicators:
RSI: Around 50 - indicates a balance between buying and selling pressures, which may suggest relative price stability.
Chaikin Money Flow (CMF): Above zero, indicating positive cash flow and increased buying pressure.
• Price Pattern: Formation of a "Bearish Flag" which may indicate a continuation of the downtrend if support is broken.
📌 Notes:
• If the price exceeds the resistance level at $0.75, it may target higher levels like $0.90 or $1.20.
• If selling pressure continues and the price breaks support at $0.58, the price may return to previous low levels.