$OM Short Liquidation Update:

$OM Short Liquidation Alert: A significant short liquidation of $9.9317K took place at $3.68646.

This means that traders who were betting on OM’s price to go down were forced to close their positions, leading to buying pressure and potential upward movement in the market.

What’s Next for OM?

Immediate Impact: The short liquidation often causes a sudden upward move as short sellers are forced to buy back positions to cover their losses.

This could push OM’s price higher in the short term.

Support Zones: After the liquidation, we may see the price stabilize and find support around $3.60 to $3.65.

This area is key for potential bullish momentum.

Resistance Levels: If the price continues to rise, watch for resistance near $3.80 to $3.90, where the price might face some challenges before moving higher.

Trade Setup:

1. Buy Zone:

$3.60 to $3.65: This is the ideal buy zone. If OM reaches this area and shows signs of holding, consider entering a long position.

The short liquidation suggests upward pressure, and this zone could offer a good entry.

2. Target:

$3.80 to $3.90: This is the next key resistance zone.

If OM continues its upward momentum, expect it to face resistance around $3.80 - $3.90.

This would be a good target for profit-taking.

3. Stop Loss:

Set your stop loss just below $3.50 to protect your position in case the market turns against you.

This ensures you are protected if the price fails to hold the support zone.

Key Takeaways:

Watch the $3.60 - $3.65 range for a potential buy, as this could be a strong support zone after the liquidation.

If the price bounces, target the $3.80 - $3.90 range for a possible exit.

Keep a stop loss below $3.50 to manage risk in case the price drops below support.