📉 $OM — Bearish Trend, Oversold Bounce with @EdgenTech
⚡ TL;DR
$OM remains bearish despite a +29% rebound, with momentum still weak and trend firmly down.
Oversold RSI and negative funding hint at a possible short squeeze, but structure favors sellers.
Quick Stats:
💰 Price: $0.14 | 24h: +28.9% | 7D: -19%
⚙️ RSI: 27 → oversold
📊 MACD: Deeply bearish
💣 Funding: -1.22% → shorts overcrowded
📉 Open Interest: Down from $90B → $75B
🧭 Market View
OM bounced off $0.10 support but failed to reclaim the 20D MA ($0.16) — suggesting a dead-cat rally.
Price remains below all key averages; momentum still favors downside.
Key Levels:
Support: $0.10
Resistance: $0.16
Breakdown Target: $0.085
🎯 Trading Outlook
🧠 Primary Bias: Bearish until a daily close above $0.165.
💥 Potential Bounce: Oversold + short squeeze could lift price to $0.16–$0.18 before rejection.
Bottom Line:
Strong downtrend, weak recovery.
Short-term bounce possible, but trend control remains with bears.
#OM #Altcoins #MarketUpdate #BTC #ETH
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