Step 1: Trend and Price Action Analysis

• Long-Term Trend: From mid-April to early July, OM moved from a sharp collapse (~$6 to under $1) before normalizing in the $0.20–$0.50 range. The most recent month (June–July) has been dominated by a steady monthly downtrend from ~$0.33 to $0.20. This signals persistent bearish pressure, broken only rarely by swift but short-lived spikes (e.g., June 23–24, July 2–3).

• Short-Term and Intraday: Over the past 2 weeks, the price stabilized between $0.20–$0.22, with frequent wicks and failed attempts to break resistance at $0.22. Over the last 48 hours, the price bounced in a tight $0.20–$0.21 band. Today's session shows two failed pushes above $0.208, indicating resistance remains strong, and sellers are regaining control after every rally.

Step 2: Volume and Liquidity

• Volume Structure: Volume has generally declined alongside price, confirming weak buying interest. Notably, any buy-side volume bursts (such as June 23, July 2) led only to temporary price pops, followed by renewed selling.
• Recent Hours: The most recent hourly candles (July 9) all show relatively flat or decreasing volume, with a slight uptick around $0.2075 (sellers possibly defending this pocket).

Step 3: Support and Resistance Analysis

• Support: Immediate support lies at $0.203–$0.204 (multiple intraday rebounds). Next major support is at $0.198–$0.200, where price has previously found buying interest (July 1 lows).
• Resistance: $0.208 is the clear, repeatedly tested resistance (multiple 1-hour and daily candle fails); beyond this, next resistance is at $0.217–$0.220 (late June cluster).

Step 4: Chart Patterns & Candle Formations

• Bearish Structure: Pattern is a classic series of lower highs and lower lows on daily and hourly frames—a tight bearish flag with poor follow-through on bullish attempts.
• Micro Double Top: July 9's quick spike and immediate rejections at $0.208 created a local double top, supporting the bearish thesis.

Step 5: Indicators (Momentum, Volatility, Oscillators)

• RSI (Relative Strength Index): ESTIMATED RSI by price action is slightly oversold (near 35–40), but not yet in classic buy-the-dip territory. Previous oversold levels since April have NOT presaged sustainable bounces; momentum remains weak.
• MACD: No crossover, with the MACD slope continuing negative; typical of strong downtrends.
• Bollinger Bands: Price frequently rides the lower band, briefly mean-reverting but unable to mount above the midline.
• ATR (Volatility): Contracting volatility supports a potential for a sharp move once the current range resolves.

Step 6: Order Flow & Market Sentiment

• Market Structure: Sellers have aggressively defended resistance on every bounce. There is little evidence of accumulation; order flow is heavy with supply at the upper end of the current micro-range.
• Sentiment: Bearish, with occasional short-covering rallies, but buyers unwilling or unable to sustain momentum.

Step 7: Predictions / Scenario Analysis

• Base Case: With repeated failures at resistance, sellers will likely press the price down to test support at $0.203, and possibly the prior major low at $0.198. If these levels break, expect a continuation as capitulation sellers appear.
• Bullish Alternate: Only a clean hourly/daily close above ~$0.212 would shift structure bullish—there's no current evidence for this.

Step 8: Risk-Reward, Entry, and Exit

• High Conviction Short: Ideal is to sell near resistance ($0.206–$0.208), targeting the breakdown to $0.200 or below, with a tight stop above $0.210 to preserve risk.
• Buy Trade: Not favored at current structure; no bullish reversal pattern, fading momentum, and continual breakdowns argue against long positioning.

Conclusion: With persistent selling, repeated rejections at resistance, and price lingering near support, the path of least resistance is lower. Advantage: short side.

Sell (Short) at current price $0.2066. Target $0.2000, potentially lower if $0.200 breaks. Place stop-loss above $0.210 for prudent risk management.