Here is why Ecomi is up by more than 18% today
Ecomi is one of the best performers amongst the top 100 cryptocurrencies by market cap.
The cryptocurrency has recorded an improved performance over the past 24 hours. The total cryptocurrency market cap now stands above $1.9 trillion, up by more than $150 billion in the last few hours.
Bitcoin, the leading cryptocurrency by market cap, is currently trading above $42k after adding more than 10% to its value so far today. Meanwhile, Ether and the other leading cryptocurrencies like Solana, Terra, XRP, Cardano and BNB are all trading in the green zone.
However, OMI, the native token of the Ecomi ecosystem, is one of the top performers amongst the top 100 cryptocurrencies by market cap so far today. OMI has added more than 18% to its value in the last 24 hours.
OMI’s rally can be attributed to the listing of the token on the BitMart exchange a few hours ago. ECOMI focuses on creating the world’s best platform to purchase, protect and collect premium licenced digital collectibles using Distributed Ledger Technology.
Key levels to watch
The OMI/USDT 4-hour chart is one of the most bullish amongst the top 100 cryptocurrencies by market cap. The technical indicators show that OMI is performing well at the moment.
The 14-day relative strength index of 67 shows that OMI could soon enter the overbought region if the rally continues.
Meanwhile, the MACD line is deep within the positive territory as OMI has been rallying over the past 24 hours.
At press time, OMI is trading at $0.0045 per token. If the bulls remain in control, OMI could surpass the first major resistance level at $0.004938 before the end of the day.
However, it would need the support of the broader cryptocurrency market if it should break past the second major resistance level at $0.00535.