$OMNI - Fell 58% after two days of listing - Does the chart structure resemble $ZK?
1. Key Information
- Omni Network is a #layer1 solution addressing the problem of fragmentation across Ethereum Rollups. It enables developers to launch globally-native applications and derives security from Ethereum via EigenLayer restaking.
- Omni is backed by Coinbase Ventures, Pantera, Jump, and Spartan Group --> Important to consider how market makers are involved in the chart.
- Categories & Trends: #Layer1, #restaking , #Interoperability, #Rollups
- Additionally, the project has allocated a total of 6.6 million $OMNI tokens to Binance and Contract Claim Airdrop.
This token allocation represents over 50% of the current circulating supply in the market. In the past few days, there has been noticeable selling pressure to convert OMNI to USDT. However, it is important to assess the true value of $OMNI.
2. Trading Perspective by SDT
- OMNI reached an ATH of around $55 and is currently being traded on Binance, Bybit, Kucoin, etc.
- With the current price at $23, OMNI has been consistently exploring new bottoms - similar to $ZK, which reached an ATH at ~3.9 and is currently trading sideways at 1.6. What opportunities does this present for $OMNI?
- Over 20 Smart DEX Traders hold OMNI, accumulating ~18.1K tokens (~413.8K) at an average price of $34.55.
- Most Smart Traders have negative PnL: -$206.6K. However, there is no selling pressure from this group. This indicates that the current entry point for $OMNI is favorable compared to the buying price of Smart Traders.
- Two Smart DEX Traders purchased at the price range of $32-$34 and have not sold their OMNI despite a PnL of -$170.8K. Worth monitoring.
+ 0x636cfe890735df063992a536b2ce6dbdd14cd922
+ 0x395b9853e95be2369af37653481c4e2dd09919b0
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Capital management is crucial at the current moment. If your buying point is lower than that of SDT and they are still holding, you have a significant advantage.
