- The 20-day EMA is providing good resistance to the OLY coin’s price
- The OLY/BTC pair was trading at 0.000001622 BTC with a loss of 1.08%
- The 24 hr trading volume in OLY is $70.3K
The OLY token was recently rejected from the $0.0142 resistance with an evening star candle pattern. The bearish pattern plunged the price back to the crucial support of $0.009. However, the coin price is still struggling to obtain proper support from this level.
Concerning the EMA’s, the OLY token price is trading below the 100 EMA line, indicating a bearish trend in this coin. Moreover, the coin price is facing good resistance from the 20 EMA line.
The RSI value is 37, indicating a bearish sentiment in this coin.
OLY Token Displays A Descending Triangle Pattern
The OLY token shows the formation of descending triangle pattern in the 4hr time frame. The crypto traders can grab an excellent short opportunity if the price gives a deceive breakout from the $0.009 neckline. The current price of the OLY coin is $0.00929, with an intraday gain of 2.02%
The MACD indicator (BEARISH) shows both the MACD line and the signal lines are moving below the neutral zone, indicating bearish momentum in the market.
What is Olyseum and how it works?
Stars created Olyseum to build closer and more meaningful relationships with their fans.
Olyseum uses a mix of an off-chain and on-chain reward system to improve the platform, incentivize stars, influencers, and creates a gamification layer, and provides access to stars’ exclusivity.
Olyseum proposes a platform for fans to earn rewards by engaging with stars on Olyseum or other social media networks, as a way to bring stars closer to fans, Olyseum has created an experience exchange that allows these rewards to be redeemed.
Olyseum allows stars to connect with their fans worldwide and rewards them for their support. Stars will also receive a percentage of the overall network’s advertising revenue, allowing them to monetize their engagement with their fans and activities.
Conclusion: From the technical perspective, the overall trend of the OLY token is sideways. However, as mentioned above, the price is forming a bearish pattern in its technical chart, providing its traders a great short opportunity if the coin price breaches the crucial support of $0.009.
Support– $0.009
Resistance– $0.0142