FxWirePro- OMUSD (Chart of the day)

MANTRA DAO is a decentralized application built on Rio Chain, a Substrate-based blockchain infrastructure that is interoperable with the Polkadot network.

A savings and lending platform whereby depositors can earn interest on their pooled digital assets. 2. A governance token called OM which confers its holders’ voting power over certain economic parameters such as interest rates, inflation and deflation levels. 3. A reputation protocol called KARMA which A) weighs the voting power of OM token holders proportionally to certain measurable metrics. B) increases the chances of OM token holders benefiting from various financial incentive schemes.

OMUSD was one of the best performers this week.

Any weekly close above $1.20 confirms further bullishness.

OMUSD surged more than 80% in past three weeks. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a high of $1.154 and is currently trading around $0.9860.

The bullish invalidation can happen if the pair closes below $0.580. On the lower side, the near-term support is $0.80. Any break below the target of $0.58. Any breach below $0.58 targets $0.30.

The pair's near-term resistance is around $1.20. Any breach above confirms minor bullishness. A jump to $1.50/$1.75 is possible. A surge past $1.75 will take it to $2.

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It is good to buy on dips around $0.80 with SL around $0.58 for TP of $1.25/$1.50.

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