Omusd
🈹OM - 120 days of accumulationAs global markets SP:SPX NASDAQ:NDAQ are dumping, so is Bitcoin. This obviously strongly affects altcoins as well. Those aren't the best conditions to trade in, but:
The price has been consolidating on 200EMA/key level/node of high volume for over 120days now, and it seems like the accumulation is near its end. In choppy price action, it is hard to rely on trendlines, although we may notice some sort of triangle pattern squeeze happening right now.
Technical indicators are telling us that money keeps flowing in, and buyers are taking the control as MFI keeps going up. This could mean, that we could soon see a breakout from:
- the accumulation zone(above key level)
- macro triangle formation(break dynamic resistance-blue)
- horizontal resistance area(red area)
In case the market keeps dumping, ideally we'd like to see the price stay above the support area, otherwise the accumulation "power" might be used to push the price lower.
Entry: average buy between current price and the area of support(green area)
Targets:
0.295
0.338
0.436
0.523
0.608
0.685
0.810
0.882
+ use mid/top of the channel trendline as dynamic target
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About OM:
MANTRA DAO is a decentralized finance platform with a specific focus on staking, lending and decentralized governance. The project is being built on the blockchain RioChain and will be connected with Polkadot. It is intended to act as an ecosystem for Web 3.0.
The platform uses a native utility token, OM, for staking, lending and governance. While the project plans to move to the Polkadot network, the token has been initially issued on the Ethereum blockchain.
MANTRA DAO was first announced in June 2020, and the platform went live with its first feature, staking, in October 2020.
Source: coinmarketcap
OMUSDT long term This coin, Mantra DAO token is a powerful project.
don't hesitate to add to your portfolio
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Feel free to comment, (even say hi)
Regards
OMUSDT 4H Analysishi my friends ,
in this chart we have 2 possible scenraio for OM
scenario2 is scary but possible
i think scenario 1 is most possibilty
OM/USDTWe've already known this friendly pattern
I just want this correction bloody days to end soon.
Symmetrical triangle in Mantradao Cup and handle near completionThere has been a symmetrical triangle pattern forming inside the handle on Mantradao's cup and handle pattern on the daily chart. Considering the potential for Ethereum defi tokens given the recent Eth upgrade, OM may have just printed the final higher low before breaking out of this triangle.
Mantradao Cup and handle targetsA rough estimate on the cup and handle forming with the OMUSDT daily chart suggests the potential for a breakout to above $1.20. That being said, the 1.618 fib extension from the top of the cup is at a slightly lower $1, which is an obvious key psychological level, where may people may be looking to take profit. However, before any break out occurs OM could also face some selling pressure around the 59-60 cent level.
Mantradao OMUSDT - The Mother of all Cup & Handles?Mantradao Om is currently downtrending with the rest of the market, but it is still above a key support level. The daily chart has retraced to the 0.618 fib golden pocket zone from its recent high and despite the MACD and RSI appearing bearish still, is potentially forming an impressive cup and handle.
Mantradao OM support levels & consideration of Poloniex chartChart structure, fib levels and 4hr 50 EMA could indicate OMUSDT is above strong support even if the 20 EMA doesn't hold. Consideration of the first hour's candle from the launch day on the Poloniex chart (which is not recognised by Coin Gecko or Coin Marketcap) suggests a 4x would be needed for a new ATH on that chart.
It's also noteworthy to mention that at the time of posting this, OM would need to do more than a 6x for the market cap (based on circulating supply) to surpass $1 billion.
Where do you think OM is on the Wall St Cheat Sheet & did you buy into that massive candle on the Poloniex launch?
Mantradao looking strong in aftermath of Binance listing Mantradao's OM token has had a fairly standard price spike following its listing on Binance. After breaking out of a descending wedge, its next bullish target looks to take it back up to the level it was trading at last September.
Link to article on Binance effect here: bitcoinexchangeguide.com
Mantradao Cup and handle appears to remain in play.☕️After bouncing off the 4hr 200EMA from a descending broadening wedge, OMUSDT's cup and handle speculated previously appears to remain in play. OM's seen a fair bit of price action around this level before, so we might bounce around here a while longer. However, if the market remains bullish we could soon se a breakout up to around the 50cent mark indicated by the crockery.
Perfect rounded bottom on $OM Mantradao this one will get sent back to highs from before septemberselloff and probably far beyond that
minimum 100% in USD from here easy
18.5 RR
