đ Mantra ($OM ) Secures New All Time High with 191% Surge
The crypto market is moderately bullish, with the total market cap settled at $3.09 trillion. The largest cryptocurrency, Bitcoin, trades at $91.8K. The assetâs dominance led the altcoins to surge. While Ethereum (ETH) rests at the $3.1K mark.
Investors are focusing on the promising altcoins, as the alt-season is looming. Among the altcoins, MANTRA (OM) has hit its all-time high at $4.47 and is listed in the top five gainers. The assetâs positive outlook with a 25.52% gain drove it to trade higher for the day.
As of writing, OM is traded at $4.18 with a market cap of $3.73 billion. During this timeframe, CMC data revealed that Mantraâs daily trading volume was $769 million. Meanwhile, the asset has witnessed a 24-hour liquidation of $7.64 million.
Over the past seven days, Mantra has gained over 191%. It began trading at $1.39. The mid-week high is marked at $1.84, and the asset steadily soared to the current price levels.
On the other side, a whale has deposited 600K OM worth $2.55 million to Binance. The whale had previously withdrawn 1.49 million OM in June 2023. With 889K Mantra valued at $3.76 million still held, its estimated profit stands at $6.26 million.
Notably, whale activity has increased as the assetâs price hikes. As per on-chain data, on Nov 16, a whale withdrew 1.2 million OM from Binance. The whaleâs estimated profit now stands at $36.94 million.
đž Can OM Keep Its Bullish Trend Alive?
OMâs Moving Average Convergence Divergence (MACD) line rests above the signal line, inferred by the four-hour technical chart. It suggests the upside pressure and an impending positive sentiment.
Besides, the Chaikin Money Flow (CMF) indicator is located at 0.21, indicating a positive money flow with buyers steering the market. Meanwhile, the trading volume of OM has surged by over 33.85%.
According to analysts, if the assetâs positive sentiment remains strong, it can effortlessly break the all-time high.