OMNI defies market slump, signals strong reversal ahead of token swap

Omni Network’s native token OMNI is showing renewed strength at a time when the broader cryptocurrency market is under pressure.

The cryptocurrency has managed to push higher in the past week, defying a wider downturn, and technical signals point to the possibility of a stronger reversal if key levels hold.

OMNI’s market resilience draws attention

The price of OMNI has risen by 3.2% in the last 24 hours to trade near $4.22, even as the global crypto market slipped by more than 3%.

Over the past week, OMNI gained more than 22%, a sharp contrast to the broader sell-off.

Notably, this upswing follows months of sideways action and comes just three months after the token touched its all-time low of $1.37 in July.

The token is currently ranked #371 with a market capitalisation of about $167.7 million and a daily trading volume exceeding $82 million.

Its trading range in the past day stretched between $3.86 and $4.62, reflecting both volatility and resilience.

Omni Network rebrand momentum fuels speculation

Much of the recent price activity has been tied to Omni Network’s rebrand to Nomina (NOM), which is accompanied by a token migration at a 1:75 ratio.

This rebrand comes after Omni’s August decision to reposition itself as a user-friendly DeFi layer, an upgrade that continues to attract developer and community interest.

The transition has already triggered exchange responses, with KuCoin delisting OMNI perpetual futures on September 22, while Phemex and Binance announced support for the token swap scheduled between September 25 and 26.

Delistings often create uncertainty, but in this case, the price has held firm.

Traders appear to be positioning ahead of the migration, betting that the rebrand will improve liquidity and long-term utility.

Technical analysis shows a strong bullish trend

On the technical front, OMNI has been defending a crucial support zone at $4.00, which also aligns with the 23.6% Fibonacci retracement level.

The 30-day simple moving average sits lower at $3.48, offering another layer of support.

The MACD histogram has turned positive, signalling growing bullish momentum, while the RSI reading of 59.97 indicates strength without being overstretched.

OMNI price analysis: Source: CoinMarketCap

Market analysis points to $4.27 as the immediate key level to watch, with a sustained hold above this level reinforcing the bullish case, with resistance levels standing at $5.10, $8.70, and $10.33.

A decisive break of $5.10 could unlock a path toward $14.07, a level that marks a full bullish projection and a potential 174% move from current prices.

Higher lows hint at accumulation

Beyond the numbers, OMNI’s price structure has been gradually improving.

The token has formed higher lows since July, a pattern often associated with early accumulation.

This suggests that buyers have been steadily positioning, even during quieter trading phases, laying the groundwork for a stronger breakout.

Traders are cautious, however, as failure to hold support could invalidate the setup.

The invalidation zone remains at $2.41, meaning a move below that level would negate the bullish thesis and likely trigger deeper losses.

For now, the favourable risk-to-reward profile remains intact, making OMNI a closely watched asset.

While the altcoin has gained 159% over the past 90 days, underscoring the optimism surrounding its transition to Nomina, the coming weeks will test whether this enthusiasm can withstand the turbulence caused by exchange delistings and migration logistics.

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