Omni Network (OMNI) surges over 130% as Upbit announces OMNI/KRW pair listing, boosting investor sentiment.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
While the wider crypto market remains largely flat, Omni Network’s native token OMNI OMNI $4.49 24h volatility: 69.9% Market cap: $169.06 M Vol. 24h: $399.25 M has skyrocketed by over 130% in the past 24 hours.
The sudden price spike follows the token listing announcement by South Korea’s leading exchange, Upbit earlier today.
Upbit announced that it will list the OMNI/KRW trading pair, scheduled to go live at 18:30 KST on Tuesday, with deposit support enabled shortly after the notice.
Upbit has also enforced specific trading controls to ensure a fair and transparent launch. For the first five minutes after trading begins, buy orders will be restricted.
Similarly, sell orders priced more than 10% below the previous day’s close will be limited during the same period.
The exchange will only allow limit orders for the first two hours of trading to prevent abrupt price fluctuations.
At the time of writing, OMNI is trading around $6.39 with a market cap of $219 million, up by nearly 129% over the last 24 hours. There has been a 150% increase in spot volume following the Upbit announcement, reflecting strong market enthusiasm.
Exchange listing announcements often trigger price surges due to increased liquidity and visibility. Some analysts believe OMNI has the potential to become the market’s next 1000x crypto.
Beyond the Upbit listing news, OMNI’s price also started breaking out from a 15-day long downward parallel channel on July 27. Such breakouts often indicate strong directional moves, which in this case aligned with bullish momentum.
OMNI price chart with downward parallel channel | Source: Trading View
Omni Network is a Layer 1 blockchain built to solve the growing fragmentation across Ethereum ETH $3 764 24h volatility: 0.7% Market cap: $455.04 B Vol. 24h: $31.92 B rollups by enabling seamless interoperability between them.
As more rollups are deployed, Omni aims to unify developer, liquidity, and user experiences across ecosystems.
On the 4-hour OMNI price chart, the RSI has soared above 91, signaling heavily overbought conditions. While this often suggests a potential pullback, it also confirms strong buying pressure.
OMNI price chart with RSI and Bollinger Bands | Source: Trading View
Bollinger Bands indicate that OMNI price has exploded above the upper band, which could either result in a continuation of bullish momentum or an overextended move. If sentiment cools, immediate support levels are $3.50 and the mid-band (20-day SMA) around $2.87.
MACD confirms the bullish crossover with the signal line well below the MACD line. Histogram bars are sharply increasing, another sign of accelerating upward momentum. A sustained close above the recent high of $7.80 could lead OMNI to $10.
OMNI price chart with MACD | Source: Trading View
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.