$OM Just Got Rocked: $32.23K Longs Liquidated at $0.6392.
The bulls got shaken hard as $OM faced a strong liquidation at $0.6392. This kind of flush often signals a potential reversal or deeper dive—depending on the volume follow-up. Here's your tactical breakdown if you're eyeing an entry:
Technical Analysis:
Liquidation Level: $0.6392
Support Zone (Buy Zone): $0.5900 – $0.6150
Resistance Levels: $0.6800 and $0.7250
Trend Outlook: Short-term weakness, but setting up for a possible bounce if $0.5900 holds.
Entry Plan (High-Risk/High-Reward):
Buy Zone: $0.5950 – $0.6150 (watch for reversal candles and volume pickup)
Target 1: $0.6800
Target 2: $0.7250
Stop Loss: $0.5730 (below major support)
Summary:
$OM long liquidation wiped out weak hands. If price stabilizes above $0.5900, a bounce toward $0.68+ is likely. However, breaking below $0.5730 could trigger another wave down.