OMNI Token Surges Over 130% Following Upbit Listing Announcement
Omni Network's native token, OMNI, has surged over 130% in the past 24 hours, trading at approximately $6.39 with a market cap of $219 million. This spike follows the announcement of its listing on South Korea's Upbit exchange.
Key points:
- OMNI/KRW trading pair goes live at 18:30 KST on Tuesday.
- Deposit support enabled shortly after the announcement.
- Upbit will restrict buy orders for the first five minutes and sell orders priced more than 10% below the previous close.
- Only limit orders will be allowed for the first two hours to prevent price fluctuations.
- Spot volume increased by 150% post-announcement.
- OMNI broke out of a 15-day downward channel on July 27.
Technical indicators show:
- RSI above 91 indicates overbought conditions but strong buying pressure.
- Bollinger Bands suggest potential continuation or overextension of bullish momentum.
- Immediate support levels are $3.50 and $2.87 (mid-band SMA).
- Sustained close above $7.80 may lead to $10.
Omni Network aims to enhance interoperability across Ethereum rollups, addressing fragmentation in the blockchain space.