Unfolding OM Crypto Price On Daily Chart
## ****
Over the daily chart, the third quarter of the year has entered its final month, and OM beginning to illustrate signs of potential, which could even surpass its previous peak.
**OM crypto** ATH happened on July 22nd but fell nearly 40% in a sell-off. However, in the past two weeks, some gains have been recovered, and now from the peak, it's only 28% down.
From a technical standpoint, from the peak, two descending trendlines have characterized a pattern, precisely the falling wedge. This suggests that sellers might be losing momentum as lines narrowed.
The intraday surge has led to the breakout of this pattern today and validated the bullish theory. The other strong factors, like trendline support and high volume-based horizontal support at $0.909, firmly support the bullish bias.
A massive rally could pop out if buyers take advantage of the bears' exhaustion. This breakout of the wedge has signaled a probable start of a surge toward a new all-time high (ATH). Still, the 1.10 might pose resistance to the price, which needs to be monitored.
In this month, if **OM** breaks past the $1.10, it could potentially surpass ATH in september. Thus creating a new all-time high (ATH). However, the bullish thesis could still be invalidated, and DYOR is a must. If the lowest points of the wedge, followed by the prolonged upward trendline, are breached, the price might stumble to further lows.
Over the daily chart, the third quarter of the year has entered its final month, and OM beginning to illustrate signs of potential, which could even surpass its previous peak.
**OM crypto** ATH happened on July 22nd but fell nearly 40% in a sell-off. However, in the past two weeks, some gains have been recovered, and now from the peak, it's only 28% down.
From a technical standpoint, from the peak, two descending trendlines have characterized a pattern, precisely the falling wedge. This suggests that sellers might be losing momentum as lines narrowed.
The intraday surge has led to the breakout of this pattern today and validated the bullish theory. The other strong factors, like trendline support and high volume-based horizontal support at $0.909, firmly support the bullish bias.
A massive rally could pop out if buyers take advantage of the bears' exhaustion. This breakout of the wedge has signaled a probable start of a surge toward a new all-time high (ATH). Still, the 1.10 might pose resistance to the price, which needs to be monitored.
In this month, if **OM** breaks past the $1.10, it could potentially surpass ATH in september. Thus creating a new all-time high (ATH). However, the bullish thesis could still be invalidated, and DYOR is a must. If the lowest points of the wedge, followed by the prolonged upward trendline, are breached, the price might stumble to further lows.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.