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Omnicom

OMNI Network: Potential Breakout and Upside TargetBINANCE:OMNIUSDT Hey traders, Looking at the BINANCE:OMNIUSDT chart, we've observed significant price fluctuations over the past month. After a drop to a key monthly support level around $8.5, the price action has developed within a converging pattern, forming both a minor ascending channel and a smaller neutral channel simultaneously. Recently, the price has tested the upper boundary (resistance) of this ascending channel. Coupled with a noticeable increase in trading volume and a rising market capitalization for OMNI, this suggests a strong probability of a breakout above this resistance level. Should this breakout occur, I anticipate a continuation of the upward momentum, with a potential target near the $15.00 price range. Also, I have a long trade position above $11.00. It's also worth noting that we're currently in the latter half of January, a period that often sees a slight dip in market volatility. Given the observed price action and supporting indicators, my bias leans towards long positions. However, as always, proper risk management and due diligence are crucial before entering any trades. Happy trading!
Long
by Arash-RK
OMNIBTC chart packed with all sorts of patterns and formations There are many interesting formations on this chart. First of all is double bottom where pair reached 0.00100000 in March this year and October 2015. It is clearly visible on weekly chart. We have upside down head and shoulders formation created from doji candles (it’s look better on hourly chart) . Rounded bottom (marked with blue curved line) . Pair is trading above 200 Ema which is bullish sign. This pair also established support level around 0.0020000 which is marked with bold black line. I marked with black parallel lines most of the GAP above the 0.0020000 area so you can see how market is reacting to them (GAP’s are treated as the solid support to push higher which is suggesting strong bullish potential) . This pair with all the mentioned formation looks very bullish to me and I’m pretty sure that this pair will reach 0.0150000 or maybe 0.020000 in future.
OLong
by Krystiannwk
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