• OMNI is gaining momentum, with analysts predicting a potential price surge past $9, aiming for $12 and $15 targets.
  • After a rebound from $7.98, OMNI shows a 7.79% increase and is approaching crucial resistance at $10.60.
  • Analysts suggest OMNI could break out from a descending wedge, potentially reaching $13.26, and even up to $20.

Analysts predict a breakout over resistance levels as the OMNI/TetherUS trading pair continues to display rising momentum. Prominent market analyst Michaël van de Poppe has pointed out that OMNI has recovered a crucial support level, which may cause price movement to pick up speed.

He expects the asset to surpass the $9 level soon, targeting $12 and $15 as potential price zones. As the markets continue to show strength, the Restaking narrative on OMNI is gaining traction. Van de Poppe’s analysis indicates that OMNI’s price structure has shifted from consolidation to a potential upward trend , confirmed by recent price movements.

The markets are moving up, so is the Restaking narrative. $OMNI took the liquidity reclaimed a crucial level.

Expecting this to run quickly once it clears $9. Next target zone is $12 and $15. pic.twitter.com/omAXmRcxAW

— Michaël van de Poppe (@CryptoMichNL) November 9, 2024

Key Resistance Levels and Price Momentum

The price chart for OMNI/TetherUS reveals multiple key support and resistance levels. Following a rebound from the $7.98 support level, the asset has surged, marking a 7.79% increase. The price currently sits at $8.99 , pushing toward resistance at $10.60. This resistance level has been tested multiple times, showing price rejections in the past.

Van de Poppe highlights that once OMNI clears this resistance, it could make a strong move toward the $12 and $15 targets. Additionally, increased trading volume during the recovery phase supports the ongoing bullish sentiment.

Consolidation and Potential for a $20 Target

Meanwhile, World Of Charts a crypto analyst has also shared an interesting perspective on OMNI. This analyst suggests that OMNI is currently consolidating within a descending broadening wedge , forming a key technical pattern. The asset had previously faced a significant decline from a peak of $28.00 in May. 

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$Omni #Omni Getting Ready For Breakout Consolidating Within Descending Broadening Wedge Expecting Recovery Towards 20$ After Successful Breakout pic.twitter.com/H2NW6sWTBD

— World Of Charts (@WorldOfCharts1) November 9, 2024

After testing the lower boundary of the wedge several times, it appears ready for a breakout. The projected price target for OMNI is $13.26, representing a 46% potential increase. If the asset breaks through the wedge’s upper boundary, it could even reach the $20 mark, as expected by the analyst.

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