🔭$OMNI /USDT SIGNAL 🎯

◻️ Technical Analysis:

Chart Pattern

The chart shows a “descending channel” pattern where prices move within a downward-sloping channel.

Strong support level at 13.09 - 13.72, with attempts to break below this level failing, indicating strong support.

Technical Indicators

MACD: Indicates an oversold condition with a potential for a near-term reversal.

RSI: At 38.84, suggesting the market is approaching oversold territory. There is a bullish divergence, supporting the possibility of a reversal.

Volume Delta: The sharp decline in trading volume confirms weak bearish momentum.

◻️ CoinGlass Indicators:

Funding Rates:

Positive funding rate (0.0067), indicating that margin traders are inclined towards long positions.

Open Interest:

Significant increase in open interest (398.734K - 401.672K), suggesting high market interest which could lead to substantial price movements.

Aggregated Futures Orderbook Liquidity Delta:

Positive value (3.173K), indicating increasing liquidity on the demand side, which could support an upward trend.

Long/Short Ratio:

Current ratio (0.9055) indicates a greater number of long positions compared to short positions, suggesting market optimism about price direction.

📊 The Strategy 📊

Entry:

Initial entry at the support level of 13.09 - 13.72. Enter if the price is near this level with strong reversal signals.

Reinforce the position if the price breaks above 13.72 with high trading volume.

Exit:

Initial target at 22.71 - 22.83.Set a stop loss below the support level of 13.09 to minimize losses.

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