$OM is currently in a correction phase, with the price hovering around 0.0736. Looking at the moving averages, there's some interesting behavior— the current price has broken below the 7-hour and 25-hour moving averages (at 0.0766 and 0.0764 respectively), but has still held above the 99-hour moving average (0.0709). This situation can be described as a semi-bullish and semi-wait-and-see stance.
The key point moving forward is this: if $OM can stabilize above the short-term moving average range of 0.077 to 0.08, and then continue to break above the previous high of 0.085, there is a chance to move towards 0.09+ or even higher. But for now, confirmation is needed, and we must wait for market signals.
In terms of support levels, the first line of defense is around 0.071-0.070. If it drops further, a relatively strong support can be found at the swing low of 0.0640.
The story with trading volume is also worth noting— volume clearly increased during the previous rally, but it has started to decline now. To see a genuine continuation of the upward trend, new buying interest needs to keep coming in, and the price must give a strong breakout confirmation signal. Currently, we are still in the observation stage.
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RugResistant
· 12-18 16:22
volume's already pulling back... that's the real red flag here ngl. seen this pattern too many times before – looks bullish on paper till the buyers ghost you. need serious confirmation at 0.077 or this dumps to 0.064 support, no cap.
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GateUser-40edb63b
· 12-17 17:44
Wait, has the trading volume decreased? Then it depends on when new funds come in; otherwise, this wave might just be a false breakout.
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HorizonHunter
· 12-17 17:38
The decline in volume is a bit concerning. Without new buying interest, it's just a breakout on paper. I need to see it stabilize at the 0.077 level before making any judgments.
$OM is currently in a correction phase, with the price hovering around 0.0736. Looking at the moving averages, there's some interesting behavior— the current price has broken below the 7-hour and 25-hour moving averages (at 0.0766 and 0.0764 respectively), but has still held above the 99-hour moving average (0.0709). This situation can be described as a semi-bullish and semi-wait-and-see stance.
The key point moving forward is this: if $OM can stabilize above the short-term moving average range of 0.077 to 0.08, and then continue to break above the previous high of 0.085, there is a chance to move towards 0.09+ or even higher. But for now, confirmation is needed, and we must wait for market signals.
In terms of support levels, the first line of defense is around 0.071-0.070. If it drops further, a relatively strong support can be found at the swing low of 0.0640.
The story with trading volume is also worth noting— volume clearly increased during the previous rally, but it has started to decline now. To see a genuine continuation of the upward trend, new buying interest needs to keep coming in, and the price must give a strong breakout confirmation signal. Currently, we are still in the observation stage.