$OM
Mantra’s (OM)
position as one of the top Real World Assets (RWA) altcoins is a key reason it makes this list. OM’s all-time high of $1.42 happened on July 22, but it has since dropped 37% from that height.
From a technical standpoint, OM has formed a falling wedge pattern on the daily chart. This pattern is characterized by two descending trendlines that connect the asset’s highs and lows. Typically, traders consider a falling wedge bullish because the narrowing lines suggest that sellers might be losing momentum.
If buyers take advantage of this potential seller exhaustion, a significant rally could ensue. For OM, a breakthrough of the 38.2% Fibonacci level could signal the start of a surge toward a new all-time high. Still, the 61.8% golden ratio at $1.15 might pose resistance to the price.
If OM breaks past the $1.15 resistance level, its price could potentially surpass $1.42 in September, making it one of the altcoins to hit a new all-time high (ATH). However, the bullish scenario could be invalidated if the token drops below the falling wedge’s lowest point again. If that occurs, the price might tumble to $0.62.
(ALWAYS STAY TUNE FOR MORE SIGNALS 📈💕🔔
