OM MANIA: Can It Reach the $10 Milestone?

OM MANIA: Can It Reach the $10 Milestone? 🤑

OM is on a roll, up 133% YTD and still climbing!
The recent gains have a pattern of consolidation and expansion on the lower timeframes – talk about a momentum monster! 🐯

OM has shown an unstoppable streak over the past year. Compared to the price on the 1st of February, OM was up by 8,592%, or nearly 86x at press time. Even from the 1st of January, OM was up by 133%. It’s like a never-ending rollercoaster ride! 🎢

This has come at a time when the rest of the market has fallen lower or stayed range-bound, such as Ethereum [ETH] or Bitcoin [BTC]. It’s like OM is the only one who knows the secret to success! 🤫

The psychological $10 level is likely to be breached next. Will OM finally reach the promised land? 🌴

How high can OM go?

Based on the rally in November, a set of Fibonacci retracement and extension levels were plotted. It’s like OM has its own personal roadmap to success! 🗺️

Beyond the $4.5 high from that rally, the relevant extension levels at $5.31, $6.58, and $7.84 have acted as both resistance and support. It’s like OM is playing a game of tug-of-war with its own price! 🤺

If this trend continues, the next price targets will be $11.16 and $11.94. Since OM has not seen a sizable retracement phase, the extension levels from November continue to serve their purpose. It’s like OM is on a mission to reach new heights! 🚀

The RSI did not show a bearish divergence on the daily timeframe, but it was getting closer. The price has formed higher highs, but the RSI struggled to match them. It’s like OM is teasing the RSI with its own success! 😏

This could be an early warning of a lower timeframe pullback. Also, the OBV continued to rise higher, showing persistent buying pressure. It’s like OM has its own personal fan club! 🎉

It is possible for traders to capitalize on the relentless OM momentum. The rallies in February were preceded by a range formation, highlighted in white. It’s like OM is leaving a trail of breadcrumbs for traders to follow! 🍞

In the second week of February, a deviation below the range low was followed by a swift 50% price move. It’s like OM is playing a game of musical chairs – who will be left holding the bag? 🎶

The range formation which OM broke out of recently originated at the mid-range level. Hence, traders can wait for the next range formation and try to buy the altcoin at the range lows, after a liquidity pocket has been built and swept. It’s like OM is giving traders a chance to get in on the action! 🎉

However, this could prove to be risky, and traders shouldn’t hesitate to cut the trade if the structure began to shift. It’s like OM is a wild card – you never know what it will do next! 🃏

2025-02-23 16:10

How high can OM go?

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