- Mantra (OM) gains 6.75% despite the market downtrend, trading at $5.39.
- Immediate resistance at $5.45 and support at $5.25; potential breakout possible.
While most altcoins struggled, Mantra (OM) showed remarkable resilience. The token’s price is currently $5.39, reflecting a 6.75% gain in the past 24 hours. Its market cap stands at $5.19 billion, up 6.47%, with a trading volume of $436.32 million, up a staggering 155.42%. Mantra (OM) appears bullish but remains a short-term trading option due to heavy whale control.
The circulating supply is 963.76 million OM out of a total of 1.8 billion OM. Mantra’s market cap ratio of 8.38% highlights a strong position in the crypto market. The fully diluted valuation (FDV) sits at $9.7 billion. These numbers point to increased investor interest despite broader market pressure.
Key Technical Indicators
The 4-hour trading view chart presents interesting patterns. Resistance stands at $5.45, while immediate support is at $5.25. A breakout above the resistance level could push prices towards $5.75. Conversely, a drop below $5.25 could test the $5.00 level.
The RSI (14) currently reads 57.88, above the neutral 50 level, OM signalling bullish momentum. The RSI average (53.28) further supports a positive trend. The Chaikin Money Flow (CMF) value of 0.32 indicates strong buying pressure.
Moving averages suggest a mixed trend. The short-term moving average (20-period) crossing above the longer-term (50-period) hints at a bullish reversal. If sustained, it could attract more buyers into the market.
The recent resilience and bullish indicators suggest a potential upward trend. However, investors must watch for a breakout beyond the $5.45 resistance. Failing to hold above current support levels could lead to further corrections.
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