🚨 Potential Trading Setup Alert for OM Coin within One Day
📉⚠️🔥📊
📌 Comment: After the sharp collapse on April 13, where the price of OM dropped from around 6.30 to below 0.50, the coin witnessed attempts to recover on April 19, trading around 0.6090775, with fluctuations between $0.607235 and $0.6710289 throughout the day. Despite some recovery attempts, selling pressures remain, and the market shows hesitation in determining a clear direction.
📊 Trading Setup:
🎯 Entry Price: $0.609077
🎯 Price Targets:
🟠 $0.65
🔴 $0.70
💀 $0.78
🚫 Stop Loss Limit: $0.58
📈 Risk to Reward Ratio: High | Reward = Potential
📉 Technical Indicators:
• RSI: Around 60 - indicates nearing the overbought area, which may suggest a potential price correction soon.
• MACD: Bullish crossover, indicating positive momentum in the short term.
• Bollinger Bands: Price is close to the upper limit, which may indicate upcoming volatility.
• Support and Resistance Levels:
- Support: $0.58
- Resistance: $0.65 — If breached, the price may head towards $0.70 or even $0.78.
📌 Notes:
• Despite the positive momentum, technical indicators should be monitored carefully, as a high RSI may indicate a potential price correction.
• If the price breaches the resistance level at $0.65, it may indicate a continuation of the upward trend. Conversely, if it breaks the support at $0.58, the price may head towards lower levels.