Ecomi’s OMI token is showing some promising signs of a bullish breakout. Covered: OMI Token’s Recent Price Action Charts (W,D,H) What to Anticipate, Key Technical Levels & Indicators Used OMI Token is Showing Signs of a Bullish Breakout ECOMI (OMI) is a new crypto whose price dates only to March 2021. Its charts on different […] The post OMI Token Is Getting Ready To Breakout, Says Technical Analyst appeared first on CryptosRus.

OMI Token Is Getting Ready To Breakout, Says Technical Analyst

Ecomi’s OMI token is showing some promising signs of a bullish breakout.

Covered:

  • OMI Token’s Recent Price Action
  • Charts (W,D,H)
  • What to Anticipate, Key Technical Levels & Indicators Used

OMI Token is Showing Signs of a Bullish Breakout

ECOMI (OMI) is a new crypto whose price dates only to March 2021. Its charts on different time frames suggest that this could have a breakout to the upside soon. Also, OMI’s market cap chart is singing the same song. 

This is the market cap chart OMI.

 

In this volatile world of cryptos, it’s not every day you see a clean pattern on a crypto’s market cap. 

Let’s dive into looking at different time frames of OMI to see what it has to offer. 


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OMI Token: Weekly

The weekly chart of OMI shows an uptrend that is beginning, and every test to 0.005 has been bought up. 

The squeeze indicator shows a medium compression squeeze in the making. 


OMI Token: Daily

The daily chart shows a big bull flag pattern. 

Notice that the flag part of the pattern is shown in the box, and in this consolidation range, we can see an inverse head & shoulder pattern with two right shoulders. Sometimes head and shoulders patterns can have two shoulders on the right side. 

The momentum oscillator shows that the fast momentum line (yellow) is pointing up while being above the midline and the slow momentum line (red). This is a very good example of bullish momentum using this indicator. 

The squeeze indicator shows no squeeze, and the momentum is bullish but falling(Blue). However, if the lower time frames are bullish, this could go back to the most bullish histogram (Cyan), which is momentum rising and bullish.

 

OMI Token: Hourly

I don’t always show an hourly chart, but when I do, I’d prefer a great setup. The one-hour chart of OMI shows a very clean pattern of “Cup & Handle.”

When we look at the daily chart, it shows a clean pattern of a bull flag. Inside that bull flag, we saw an inverse head and shoulder pattern, and now zooming in further, we see a cup & handle pattern in the hourly chart. 

The momentum oscillator shows its momentum is rising and bullish with the fast momentum line (Yellow) above the midline and the slow momentum line (Red). The squeeze indicator shows a low-compression squeeze, and it could fire soon. 

In summary, we have a combination of 3 bullish patterns on different time frames with rising momentum. This one is a good one to keep an eye on. 


Key Technical Levels

Support Zone: 0.0066 – 0.0068

Support: 0.007

Resistance Zone: 0.0082-0.0084 

Price Target 1: 0.0089

Price Target 2: 0.0094

Price Target 3: 0.01

Price Target 4: 0.0125


Indicator Used: (Click Here)

  • Not Financial Advice

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The post OMI Token Is Getting Ready To Breakout, Says Technical Analyst appeared first on CryptosRus.