OMUSDT - BULLISH MOMENTUM MAY PERSISTSymbol - OMUDST
CMP - 7.2828
OMUSDT remains an attractive asset, with consolidation forming in a flag pattern within the prevailing bullish trend. OMUSDT continues to form consolidation within the uptrend, and growth may follow if the resistance at the local channel is broken. The price structure appears robust, especially in contrast to the generally weak performance of the altcoin market.
Following Trump's speech yesterday, Bitcoin managed to surpass local resistance and entered the buying zone. If the price maintains a position above the 96.5K - 97K range and sustains its upward movement, certain altcoins may experience bullish momentum, which could propel them higher, including the already strong OMUSDT.
From a technical standpoint, the focus is on the local descending flag channel, with two critical support levels at 7.324 - 7.213. A false breakdown at these levels could trigger a continuation of the upward movement.
Key resistance: 7.755
Key support levels: 7.324, 7.213
The catalyst for continued growth lies in breaking through the channel boundary and the resistance at 7.755. Currently, the price is still distant from this zone and is approaching the support levels. A retest of the liquidity zone may culminate in a bullish impulse.
Omusdtlong
OMUSDT - TRIANGLE BREAKOUTSymbol - OMUSDT
OMUSDT is a noteworthy asset in the current market context, as it stands out as one of the few coins exhibiting bullish momentum while many altcoins are experiencing successive declines. The situation may be partially influenced by BTCUSD, should Bitcoin undergo a more significant downturn, this could impact the broader market, as no asset would be immune. However, locally, Bitcoin appears to be forming a resistance breakout. If the bullish trend persists, OMUSDT could find a catalyst to support its upward movement.
At present, attention is focused on the resistance level of the triangle pattern and the base of the 5.6755 structure. Two potential bullish scenarios should be considered: growth following a breakout above resistance or a rebound after a false breakdown of support.
Resistance levels: 5.9822, 6.3000
Support levels: 5.7500, 5.6755
Currently, the price is consolidating within the bounds of the triangle. However, once the resistance is broken, the market may enter a realization phase, with a potential sharp upward impulse. Beyond the 6.3000 level, there are no significant resistance levels to be encountered.