Omni network (OMNI) ranks third on CoinMarketcap’s trending list after gaining more than 0.7% value during the last week. OMNI was trading with a weekly opening market price of $4.8. However, as the markets opened, the prices started to crash drastically and reached the lowest price of $3.7 before exploding above $5. The market cap rose by 26% and reached $167million while the trading volume $372 million after it rose by 800%.
What is Omni network (OMNI)?
Omni Network is a Layer 1 blockchain designed to unify Ethereum’s fragmented rollup ecosystem. Its core mission is to provide seamless interoperability between different Ethereum rollups (such as Arbitrum, Optimism, and others) by acting as a universal base layer. By enabling fast, secure communication between rollups, Omni aims to improve user experience, enhance liquidity flow, and support cross-rollup applications without relying on centralized bridges. It leverages Ethereum’s security through restaking protocols like EigenLayer to ensure trustless and scalable coordination across the rollup landscape.
Meanwhile on the daily chart, OMNI has gained more than 25% within the last 24 hours and a Web3 researcher, by the pseudonym Professor Moriarty, mentioned, “The bullish momentum is strong, and all eyes are now on the key resistance at $5.37” and given that OMNI manages to break and hold above this resistance level, the path toward $7.76 and $10.63 opens up.
On the daily chart, OMNI is making bull flags after breaking out of the falling wedge. When OMNI broke out from the first bull flag, it gained nearly 100% value instantly, showing the bull power behind it. Now that OMNI has broken out from the second bull flag, the resistance level at $5.37 is being put to the test.
If OMNI breaks above the $5.37 resistance level, its first target will be $6.60. This level is derived from the height of the bull flag’s pole, applied from the breakout point. Should the momentum continue, OMNI is expected to move above $7.50 and may even test the $10 level, according to analysts.
