Olympus DAO (OHM) Was $430 the Bottom?Clearly we've been in a bear market trend for Olympus DAO and many other DAO's. A big 70% retrace from it's swing high of $1360 Olympus DAO has been in a downtrend for the past 2 months and we're still trying to find a bottom. I personally believe we're coming close to finding a bottom for Olympus DAO and $430 may be it. However we're still on a continuation of this downtrend so waiting for clear signs of reversals and change of trends is important. But on our RSI readings we've formed some deep troughs and we may be nearing a bottom soon.
Much peace, love, health, and wealth!
APY
Olympus DAO (OHM) Critical Support Area Must Be HeldOlympus DAO (OHM) has been in a downtrend since October 15th and now we're facing a major area of support at around $670 that needs to be held at the 0.382 Fibonacci level of $668. If we cannot hold this level then we will probably head back down to the 0.236 Fibonacci level of $475 which is not too pretty.
As of right now we're trying to see where Olympus DAO finds its new swing low before another change of trend. Once we break this downtrend I do believe we will run back up to around $900 given that is where most of the price recognition and action has occurred at.
Much peace, love, health, and wealth!
