Technical Analysis for $OM /USDT
{spot}(OMUSDT)
Current Price: $4.1092
Trend: Bearish (short-term correction observed with a 7.02% decline)
Support and Resistance Levels
Immediate Support: $4.0500
Key Resistance: $4.4000
Momentum Indicators
1. Relative Strength Index (RSI): Near 40, indicating the market is approaching the oversold zone.
2. MACD: Bearish crossover, signaling downward momentum.
3. Moving Averages (MA): The price is below the 50-day EMA, showing bearish sentiment.
Trade Signals
Entry Point: Look for a bounce near $4.0500 (Support zone).
Targets 🎯
1. Target 1: $4.2500
2. Target 2: $4.4000
3. Target 3: $4.6500
Stop-Loss: $3.9500 (below support level to minimize risk).
Trade Momentum
Short-Term: Bearish correction; watch for entry around $4.0500.
Mid-Term: Potential recovery if price sustains above $4.2500.
Long-Term: Bullish if it breaks $4.6500, heading towards higher levels.
Recommendation:
Scalpers: Focus on intraday opportunities between $4.0500 and $4.2500.
Swing Traders: Wait for confirmation of reversal near $4.0500 before holding towards $4.4000 or higher.
#USUALSpotLaunch #MarketMajorComeback