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Mantra (OM) Gains Momentum Following Bullish Flag Breakout: Is A Rally On Horizon?
Date: Wed, Dec 11, 2024, 09:54 AM GMT
The cryptocurrency market is showing signs of recovery today after experiencing a sharp correction over the last two days, which saw major altcoins in decline.
Amidst this altcoins rebound, Mantra (OM) has come into the spotlight as it stages a strong recovery. Currently trading at $4.14, the token has risen from its 24-hour low of $3.78, recording modest gains following key breakout.
Source: Coinmarketcap
Bullish Flag Breakout:
Mantra (OM) made a key breakout from a bullish flag pattern which was in act since last 3 weeks. After consolidating within a descending channel for several days, OM successfully breached its upper resistance trendline at the $4.09 level. This breakout fueled a swift rally to a high of $4.32, signaling renewed momentum for the token.
Currently, OM appears to be retesting the breakout level, trading slightly lower at $4.14. Retests are a critical phase in technical analysis, as a successful reversal from this level would likely confirm the breakout and pave the way for further upside. If buyers hold their ground here, $OM could approach its next key resistance at $4.53—marked in red on the chart—which is also its all-time high.
A breakout above this significant level would not only reaffirm bullish sentiment but could also set the stage for a fresh rally. In this scenario, OM might target the psychological level of $5, representing a potential 22% upside from its current price.
What To Expect Ahead?
The retest of the $4.09 breakout level will be crucial in determining OM’s next move. If the price holds above this level and reverses upwards, we can expect bullish momentum to accelerate.
From a technical standpoint, the RSI (Relative Strength Index) is trending near 60, indicating moderate bullish momentum, while the MACD shows signs of a potential crossover, which could further support upward movement.
As market sentiment shifts, traders should watch closely for a decisive break above $4.53, which could open the door to a rally toward $5 and beyond.
Get more updates at: coinsprobe.com
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional before making investment decisions in cryptocurrencies.
#MantraOM
The cryptocurrency market is showing signs of recovery today after experiencing a sharp correction over the last two days, which saw major altcoins in decline.
Amidst this altcoins rebound, Mantra (OM) has come into the spotlight as it stages a strong recovery. Currently trading at $4.14, the token has risen from its 24-hour low of $3.78, recording modest gains following key breakout.
Source: Coinmarketcap
Bullish Flag Breakout:
Mantra (OM) made a key breakout from a bullish flag pattern which was in act since last 3 weeks. After consolidating within a descending channel for several days, OM successfully breached its upper resistance trendline at the $4.09 level. This breakout fueled a swift rally to a high of $4.32, signaling renewed momentum for the token.
Currently, OM appears to be retesting the breakout level, trading slightly lower at $4.14. Retests are a critical phase in technical analysis, as a successful reversal from this level would likely confirm the breakout and pave the way for further upside. If buyers hold their ground here, $OM could approach its next key resistance at $4.53—marked in red on the chart—which is also its all-time high.
A breakout above this significant level would not only reaffirm bullish sentiment but could also set the stage for a fresh rally. In this scenario, OM might target the psychological level of $5, representing a potential 22% upside from its current price.
What To Expect Ahead?
The retest of the $4.09 breakout level will be crucial in determining OM’s next move. If the price holds above this level and reverses upwards, we can expect bullish momentum to accelerate.
From a technical standpoint, the RSI (Relative Strength Index) is trending near 60, indicating moderate bullish momentum, while the MACD shows signs of a potential crossover, which could further support upward movement.
As market sentiment shifts, traders should watch closely for a decisive break above $4.53, which could open the door to a rally toward $5 and beyond.
Get more updates at: coinsprobe.com
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional before making investment decisions in cryptocurrencies.
#MantraOM
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MANTRA
--
MANTRA is excited to announce an exciting new giveaway for the Sherpa community 🎁
Head over to Binance Square Giveaway and follow the steps to participate!
Head over to Binance Square Giveaway and follow the steps to participate!
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$OM Technical & Fundamental Analysis
💹Technical Outlook:
- Stochastic RSI indicates oversold conditions, suggesting a potential price reversal.
- Strong bullish momentum as evidenced by recent price action.
- Potential for a significant price increase, targeting a new ATH above $1.416.
💪Fundamental Strength:
- RWA narrative gaining traction in the market.
- MANTRA at the forefront of RWA tokenization, demonstrating real growth and value.
- Strong community support with 267,000,000 $OM staked (~32% of circulating supply).
- Staking rewards of up to 1.35x multiplier based on time and amount staked.
$OM's combination of technical strength and robust fundamentals positions it for continued
growth in the RWA sector.
#MANTRA #RWA #DeFi
💹Technical Outlook:
- Stochastic RSI indicates oversold conditions, suggesting a potential price reversal.
- Strong bullish momentum as evidenced by recent price action.
- Potential for a significant price increase, targeting a new ATH above $1.416.
💪Fundamental Strength:
- RWA narrative gaining traction in the market.
- MANTRA at the forefront of RWA tokenization, demonstrating real growth and value.
- Strong community support with 267,000,000 $OM staked (~32% of circulating supply).
- Staking rewards of up to 1.35x multiplier based on time and amount staked.
$OM's combination of technical strength and robust fundamentals positions it for continued
growth in the RWA sector.
#MANTRA #RWA #DeFi
#Write2Earn #TrendingTopic #mantraom #Mantra(om) Someone tell me why only this coin is dumping since one week ????
tell me OM team$OM
tell me OM team$OM
$OM (@MANTRA ) crushed it through the bear market, building like champions. Now, it's moon time!
This chart is BANANAS! ATH every day, pure vertical climb! $OM is unstoppable!
The $OM ecosystem is a DeFi POWERHOUSE! Staking, airdrops, real-world adoption - it's a perpetual buy, burn, and moon mission!
Whales are scaling in. Higher. Much higher.
#MANTRA. #mantraom
This chart is BANANAS! ATH every day, pure vertical climb! $OM is unstoppable!
The $OM ecosystem is a DeFi POWERHOUSE! Staking, airdrops, real-world adoption - it's a perpetual buy, burn, and moon mission!
Whales are scaling in. Higher. Much higher.
#MANTRA. #mantraom
$OM (@MANTRA ) has emerged victorious from the bear market, building with unwavering dedication. Now, it's time for liftoff! This chart is astonishing, with new all-time highs every day and a steep, vertical ascent! $OM is unstoppable! The $OM ecosystem is a force to be reckoned with in DeFi, offering staking, airdrops, and real-world adoption - a perpetual cycle of growth and success! Whales are increasing their positions, and the price is poised to soar even higher. Much higher. #MANTRA #BinanceTurns7 #shabana #mantraom
The way $OM is following this uptrend after finding support at 1$ suggests that we will reach $2 much sooner than expected. This uptrend will not stop soon!
#MANTRA is still one of the top performers. Over the last 6 months, $OM has surged by 7,100%
Very few tokens can boast such performance.
#mantracoin #MANTRA. #mantraom #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024
#MANTRA is still one of the top performers. Over the last 6 months, $OM has surged by 7,100%
Very few tokens can boast such performance.
#mantracoin #MANTRA. #mantraom #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024
ATH for $OM !
The daily and weekly chart is looking juicy, and that will smash $OM the way higher up!
@MANTRA is ultra bullish, can't deny! 🫡
#BullishAF #bullrun2024📈📈 #MANTRA #mantraom #OM
The daily and weekly chart is looking juicy, and that will smash $OM the way higher up!
@MANTRA is ultra bullish, can't deny! 🫡
#BullishAF #bullrun2024📈📈 #MANTRA #mantraom #OM
$OM fam!
We're officially MOONING and absolutely dominating the #RWA space!
Supply drying up, whales buying - this can only mean one thing - liftoff is imminent and target of $5 comes sooner than we all think.
#mantracoin #MANTRA. #mantraom #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024
We're officially MOONING and absolutely dominating the #RWA space!
Supply drying up, whales buying - this can only mean one thing - liftoff is imminent and target of $5 comes sooner than we all think.
#mantracoin #MANTRA. #mantraom #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024