OHM Targets and Short DD

19 Jul 2021

Well OHM is in the news because Mark Cuban has decided to stake a decent chunk.

I think this one holds promise based on the fundamentals, especially during a possible correction or bearish continuation in the crypto markets.

Why? It's basically poised to become the DAI version of the Federal Reserve.

Also we can see some strong support at each correction point suggesting we might even test the 4 figure ATH if sentiment around crypto changes or even just as people are in search of yield which the project certainly boasts a great track record so far with.

So why should you buy?

• Discount potentially down to 489 if support holds.
  
• Automatic compounding staking system saves your ETH.
  
• Bonding system can give you a discount as the price rises from local lows.
  
• Obvious enthusiasm with big FOMO candles.
  
• Limited supply becoming increasingly staked due to promising yield should push through resistance consistently.
  

This is not an asset you should trade, it's one you should stake to weather the crypto sentiment storm.

Near term targets and accumulation zone in chart, exercise caution below local support.

This is not financial advice, only invest what you can afford to lose.