Key signs point to a possible increase in Mantra's price, thus analysts are optimistic about the market.

Due to a record-breaking 570,000% increase in daily active addresses, the cryptocurrency has quickly risen to the ranks of the altcoin market's leading performers.

Analysts have seen that Mantra holders are becoming more excited about the prospect of an airdrop in the coming days, which might lead to an increase in active addresses. As the currency hit a new all-time high and saw a spike in its daily active addresses, Cosmos Airdrops made the announcement.

According to the data, the number of daily active addresses for the cryptocurrency increased by 573 percent over the last three days, suggesting that more and more people are interested in holding and trading the digital asset.

With a 24-hour trading volume of almost $674 million, OM is now trading at $4.24 per coin, setting a new all-time high. An astounding 193% price hike has been maintained by Mantra in the last week. More than $3 billion is the sum of its market capitalization.

As a result of the recent price increase, whale activity is also on the rise. For example, Spot On Chain found out that a whale who has been holding a lot of Mantra since December 2023 just increased his holdings by buying additional coins.

In addition to the 18.27 million coins it already possessed, the whale bought OM tokens valued $2.62 million.

On top of that, from 716,040 tokens on November 13 to 2.39 million OM worth $5.75 million on November 15, the net inflows from whales or huge holders of Mantra soared. According to analysts, the increasing involvement of major investors indicates a positive outlook for the OM market.

According to market watchers, the price of Mantra has soared to a new record high, with a gain of about 50% in the last 24 hours.

It is one of the best-performing cryptocurrencies in the market, according to analysts, having risen in value by over 10,000% in the last year.

This achievement solidified Mantra's position as the only digital asset centered in RWA to achieve a 100-fold return this year. In terms of overall market capitalization, Mantra was ranked 44th by CoinGecko.

The open interest in the coin's futures market also surged, according to experts, rising to a new high of $115 million, a 78.22% increase over the previous day. From $24.70 million in September, this amount represents a significant increase.

Since the Mantra token is now trading at $2.0850, which is above the upper Bollinger Band, momentum analysts are projecting that the price will continue to rise.

Data from the Average Directional Index reading, which the token has recorded at 35.96, provide credence to this prediction. Values exceeding 25 often indicate a significant trend around a digital asset.

Investors may see further price rallies in the near future for Mantra if market watchers are to be believed.

#OM #Mantra #MantaRWA $OM

1. Trend Following Strategy:
Identify OM's long-term trends using technical analysis tools like moving averages or trend lines. Buy when the price is trending upwards and sell or go short when it's trending downwards. This strategy aims to capture profits from sustained price movements.

2. Dollar-Cost Averaging (DCA):
Regularly invest a fixed amount in $OM , regardless of its price fluctuations. This strategy reduces the impact of volatility by spreading purchases over time. It's suitable for investors expecting long-term growth and wanting to mitigate short-term price fluctuations.

3. Breakout Trading Strategy:
Monitor OM's price for breakout patterns above resistance levels or below support levels. Enter trades as the price breaks out, aiming to capitalize on momentum. Use stop-loss orders to manage risk in case of false breakouts.

4. Fundamental Analysis Approach:
Evaluate MANTRA DAO's fundamentals, such as its governance model, partnerships, technology updates, and community activity. Make trading decisions based on these factors, aiming to anticipate price movements driven by fundamental developments.

5. Scalping Strategy:
Execute multiple short-term trades throughout the day to capitalize on small price movements in OM. Scalpers aim to profit from rapid price changes using tight stop-loss orders and quick entry/exit strategies.

These strategies can be adapted based on your risk tolerance, investment goals, and market conditions. Always conduct thorough research and consider consulting with a financial advisor before making investment decisions in cryptocurrencies.

#MarketSentimentToday

#Mantra #OMScalping #CryptoScalping #MantraDao