OM/USDT Technical Analysis & Trade Signal
Current Price: $3.9560
Trend: Bearish (due to a -3.66% decrease in the last 24 hours)
Support Level: $3.9380 (24h Low)
Resistance Level: $4.1431 (24h High)
Key Technical Indicators:
Parabolic SAR: 4.0708 (indicating a potential short-term uptrend, but overall downtrend pressure)
Order Book: Resistance near $4.1351, support at $3.9380
Trade Signal:
Momentum: Bearish in the short-term due to the recent price decline.
Trade Targets:
1. Target 1 (Support Zone): $3.9300 - (watch for a potential bounce here)
2. Target 2 (Mid Resistance): $4.0500 - (approaching resistance but could experience resistance at this level)
3. Target 3 (Resistance Zone): $4.1350 - (watch for a breakout above this level for a potential reversal)
Trade Recommendation:
Short Entry: If price breaks below $3.9400, expect further downside.
Long Entry: A break above $4.0700 could trigger a bullish momentum towards $4.1350. Keep a close eye on SAR for confirmation.
Note: Always ensure proper risk management with stop losses and take profits when trading.