banner

OM Price Hits $6.29 ATH – Can It Reach $7?

OM has seen a 70% price surge in the past ten days, reaching a new all-time high (ATH) of $6.29. However, signs suggest that the bullish momentum could face resistance soon.

Long-Term Holders Take Profits

OM’s rapid price increase has led long-term holders (LTHs) to start selling. The “Age Consumed” metric—which tracks when dormant tokens move—has spiked, signaling profit-taking.

OM Age Consumed. Source: Santiment

Since LTHs often act as a token’s market backbone, their selling could indicate a temporary price correction. If new buyers don’t step in, OM might struggle to maintain its current price levels.

Lack of New User Adoption Raises Concerns

Unlike other altcoins on a bullish run, OM’s adoption rate has remained flat. A rising adoption rate typically shows growing investor confidence. The lack of new users suggests that the rally might be driven by short-term speculation rather than long-term growth.

OM Adoption Rate. Source: IntoTheBlock

To sustain the uptrend, OM needs to attract fresh demand from new investors. Without it, the price could struggle to hold recent gains.

OM Price Prediction: Can It Reach $7?

OM’s price currently sits at $5.98, just below its recent ATH of $6.29. If it holds $6.00 as support, the rally could continue, potentially pushing OM toward $7.00. However, if market sentiment shifts, OM could retest $4.27 or even drop to $3.47, erasing recent gains.

The coming days will determine whether OM’s surge is sustainable or if a pullback is imminent.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content