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.
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.
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.