$OM / USDC โ Relief Bounce After Prolonged Downtrend ๐
$OM is attempting a short-term recovery after an extended
bearish trend, bouncing from the deep lows near 0.03
and currently trading around 0.076.
Market Structure ๐
โข Long-term trend remains bearish (below MA 25 & MA 99)
โข Strong capitulation earlier โ selling exhaustion
โข Recent bounce backed by rising volume
โข Price reclaiming short-term MA(7), testing MA(25)
Key Levels to Watch ๐
โข Immediate support: 0.070 โ 0.072
โข Major support: 0.060
โข Resistance zone: 0.080 โ 0.085
โข Major resistance: 0.10+
Scenario Outlook:
This move currently looks like a relief bounce
after heavy downside pressure.
Continuation higher needs a clean break and hold
above the 0.085 zone with volume.
Failure to hold above 0.07 may result in
another consolidation or retest lower.
Best Approach:
โข Avoid chasing extended candles
โข Look for pullbacks or confirmation
โข Strict risk management is essential
โ ๏ธ Highly volatile asset.
๐ Click below to check $OM
Is this just a relief bounce or the start of a base for $OM? ๐