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Ohmdao

OHM - Decision Time. Hi all, I hope you're doing well. We saw some nice price action today which pushed us above some resistance levels and key moving averages. The OHM/DAI pair is currently hovering below a key supply zone where sellers are likely to take profits and could be major resistance. Currently the daily is forming a nice green hammer with encouraging continued volume, but we need to wait and see how it closes as things are currently a little choppy. Currently the 8 day EMA, which can be used to informs us of continued strength and momentum sits @ $428. A close above this level would be an encouraging sign for the near term. A nasty rejection of this upper supply zone or loss of momentum here could lead us lower and we may be facing a double bottom of the recent low. It is important to be prepared for all possibilities. If we can push through this zone with sufficient volume and hold it as support in a clean polarity flip then I believe we can look forward to higher prices coming in to the New Year. Let me know your thoughts and if you have any of your own ideas, I'd love to chat about them. Happy Christmas :) Garreth
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by garrethdavis123
2
OHM Looking bullish, but we have a long way to go. What's next?OHMDAI finally seems to be waking up after a lof of heavy selling and speculators being liquidated over the past few weeks. We have a nice bullish cross on the 4h SMAs coupled with nice sustained volume. We have broken local resistance and need badly to hold that as support should we fall to it. Up 40% from our recent low and 25% from my video yesterday, which is very nice to see! We need to reclaim the resistance levels and flip them as support, as well as make a series of higher highs and higher lows or we cannot confirm a reversal. Let me know your thoughts, and any ideas you might have :) Note: I definitely see the confusion between charting of V1 and V2 OHM but am doing my best to keep it consistent until migration is 100% done*
OLong
by garrethdavis123
OHM Descending channel/macro outlook Hi all, hope you enjoy my analysis here. Do let me know if you prefer written or oral style updates. I certainly prefer to listen to content and find it easier as an explainer. Obviously I'm charting OHM and not gOHM here, IMO supply and demand aren't the same between the two so it's worth looking at OHM as that's what I feel most investors are looking at. My last few ideas on RSI divergences have been pretty well timed and pumped, but we lost momentum/had failed swing-high unfortunately. Feedback welcome :)
OLong
by garrethdavis123
2
Will OHM bottom soon? Clear 4h Bull Div, Daily oversold RSI.So the last 2 ideas I posted were shortly followed by nice pumps, but couldn't be sustained for whatever reason. The fundamentals of OHM seem sound, the community is vibrant and it has a huge first mover advantage in it's area (algorithmic stablecoins on ETH). Value investors are surely paying attention here for the long term play. OHM forks have been sucking liquidity and investors away for months, but how many will survive? This chart is a simple and clear 4h bullish divergence on the RSI . The daily RSI is nearly all time low territory. So, can we *confidently* expect a reversal soon, or are we going lower? Impossible to say but given that prices were above $1000 a month ago it would seem like a nice opportunity to scale in to this project if you are a fan of its thesis and stated goals. Let me know your thoughts :)
OLong
by garrethdavis123
6
Positive signs in OHM's chart, Project outlook is good, i'm longOHM is showing why it is the best DAO - treasury is healthy, staking has been steadily in the range of 7,600-8,400% APY; and Olympus Pro is expanding its ecosystem. Many new DAOs are appearing that are forked off of OHM, which is growing the entire DAO market cap, and is suggesting great potential for the viability of actual DeFi stable coin. I think OHM will end up having the largest cap out of all of them, and is a wise investment choice at this time.
OLong
by Tokademics
6