technical analysis and trade signal for $OM /USDT:🔥🚀🚀🚀
Current Price: $4.08 (+4.25%)
24h High: $4.1431
24h Low: $3.7354
SAR (Stop and Reverse): $3.9909
Support: $3.7354
Resistance: $4.1431
Key Indicators:
Volume: Significant volume, indicating strong market participation (OM: 8.10M, USDT: 32.46M).
Depth: 5.8469%, suggesting balanced market depth.
Momentum: The price has shown upward momentum (+4.25%) and is approaching a key resistance level.
Trade Signal:
Entry Point: $4.08 (current price) or if the price retraces to $3.99 (SAR level) for a safer entry.
Target Levels 🎯:
1. Target 1: $4.14 (24h High Resistance)
Reason: The price is close to the 24h high, a potential resistance zone.
2. Target 2: $4.25 (Psychological Resistance Level)
Reason: Approaching a round number that often acts as resistance in uptrends.
3. Target 3: $4.40
Reason: A further extension above the current resistance, if momentum continues.
Stop Loss:
Stop Loss Level: $3.74 (below the 24h low) to manage downside risk.
Momentum:
The recent upward movement (+4.25%) suggests bullish momentum. If the price maintains this momentum and breaks through the resistance at $4.14, it could push towards higher targets. The trend appears positive, but careful monitoring of support and resistance levels is recommended.
