【Price Trend Analysis】
K line shape:
The recent price has shown an obvious downward trend, especially the sharp plunge on June 3 (from 0.6941 to 0.4993), forming a long negative line.
There was a certain degree of rebound in the morning of June 4, but the overall price was still fluctuating at a low level.
Technical indicators:
MACD: Both DIF and DEA are below the zero axis, and the MACD histogram is negative, indicating that the current market is in a bear market.
RSI: RSI14 has a low value, currently around 17, which is close to the oversold zone. There may be a technical rebound in the short term.
EMA: EMA7 < EMA30 < EMA120, showing a strong short position, with the short-term, medium-term, and long-term moving averages all pointing to the downward trend.
Volume:
The trading volume increased significantly on June 3, reaching 154,804,867, which was accompanied by a sharp drop in price, indicating severe selling pressure.
Trading volume decreased on June 4, but was still higher than usual levels, indicating that market sentiment has not yet completely stabilized.
$OMG
