Mantra (OM) price recently broke its all-time high on November 18 and is up 155.29% in the past seven days. This strong rise highlights the strong bullish momentum that has pushed OM to its all-time highs so far.
However, recent indicators, including the RSI and Ichimoku Cloud, suggest that the uptrend may be weakening.
RSI OM shows neutral zone
The Relative Strength Index (RSI) for OM is currently at 52.7, down from the overbought levels it reached between November 16 and November 18 when it remained above 70 and the Mantra price has reached all-time highs, as the narrative around Real Assets (RWA) continues to grow.
This decline indicates a slowdown in buying momentum, suggesting that the strong upward pressure seen earlier has subsided. The shift reflects a more balanced market where buyers and sellers are now exerting similar influence on the OM price.
The RSI measures the strength of price movements, with levels above 70 indicating strong upward momentum and possible extension, while values below 30 indicate strong downward pressure.
At 52.7, OM's RSI is in a neutral range, indicating that the market is neither overheated nor oversold.
Ichimoku cloud shows that the uptrend of the mantra is weakening
The Ichimoku Cloud chart for OM indicates that the price is showing signs of weakness. The price has fallen below the Tenkan-sen line (blue line), indicating a loss of short-term momentum, and is now approaching the lower boundary of the green cloud (Kumo).
A dip below the cloud will indicate a move to a downtrend, as the cloud usually acts as a major support area.
The green cloud ahead is still relatively thick, indicating that while the overall trend may still have some support, that support is being tested.
If the OM price closes below the cloud, it may indicate a potential reversal of the recent uptrend into a continued downtrend.
OM Price Prediction: Can Mantra Drop Below $3 in November?
If OM’s downtrend continues to consolidate, it may test the nearest support area at $2.98. If this level fails to hold, the price may decline further, reaching a low of $1.81.
This scenario would indicate a deeper bearish reversal and a significant loss of momentum.
On the other hand, if the uptrend recovers, OM price may target fresh highs by testing the resistance zone at $4.53.
A breakout of this level will likely enable OM to surpass its previous peak and set a new all-time high, establishing Mantra as one of the most important coins in the RWA ecosystem.
