$OM FORMS BEARISH ENGULFING ON THE DAILY TIME FRAME đđ
So, this is one final opportunity to buy the best RWA token at dip before it goes on an ultra bullish mode. đ
đ Last week came to an end after the price came declining and closing below the opening price of the previous day's candle forming a bearish engulfing.
Also, OM broke down the 5DMA and the pivotal support of $1 with clear indications of the Bearish Engulfing showing it's impact.
Now, this pattern formation is not a first time occurrence and happened in the past as well. When we look at the chart, the rejection took place at $1.10 which is the demand zone (red boxes).
Following these patterns from the past makes it less complicated to gauge the next move. Now we have the next support lying at $0.90 followed by $0.8
In case of further decline, which seems probable as well the support would be strong at $0.7. Once that descending trendline breaks, it is good to go on it's upward journey but that would be slow and steady.
đą As of now, Technical Indicators and Oscillators have turned completely bearish, so wait for the price to hit those support levels before taking any position.
A good time to short and earn some bucks.
*This is not investment advice. Do your own research before taking any trade.
Error: The "Supply Zone" has been wrongly typed as Demand Zone on the charts đ
