$OM continues with a bearish trend in recent sessions, evidenced by the current price ($0.5287) located below the three Exponential Moving Averages (EMA of 7, 25, and 99). This suggests short-term selling pressure.
A recent support level is identified around \$0.4872. However, the price's inability to rebound significantly from this level and maintain itself above the EMA of 7 indicates weakness in demand.
Immediate resistance is found at the EMA of 7 (\$0.5311), followed by the EMA of 25 (\$0.5426) and the EMA of 99 (\$0.5497). For the short-term bearish trend to reverse, the price would need to surpass these EMAs with substantial volume.
Volume in the last 24 hours is notable (213.99M OM), indicating activity. It will be crucial to observe whether the volume accompanies any attempts at a bullish breakout to confirm its validity.
In the short term, if the bearish pressure continues, we might expect the price to test the support of \$0.4872 again. A break below this level could open the door to further declines. On the other hand, a bullish move that surpasses the EMA of 7 could signal an attempt at recovery, although it would need to surpass the following EMAs to confirm a more significant trend change.
The most likely expectation in the short term is a bearish trend unless a drastic change in volume and price action is observed with clear breakouts of the mentioned resistances.