- OM surged 42% to an all-time high of $5, currently trading at $4.75.
- The market cap is $4.57 billion, with trading volume up 700% to $376.69M.
MANTRA (OM) achieved a new milestone today, touching $5 before retreating slightly. The token currently trades at $4.75, representing a 36.72% gain in the last 24 hours. Its market cap has surged to $4.57 billion, up 36.74%, with a massive spike in trading volume to $376.69 million, an increase of 700.08%. The market cap ratio is 8.16%, signaling robust trading activity.
A whale identified as 0x502 deposited 300,000 OM (worth approximately $1.48 million) into Binance an hour ago. This deposit comes with a floating profit of about $1.47 million US dollars. The significant move by the whale could indicate a potential sell-off or further strategic positioning as the token approaches key levels.
Key Technical Indicators For MANTRA (OM)
On the 4-hour chart, technical indicators reflect strong bullish momentum. The RSI (14) is at 78.41, showing overbought conditions. This suggests that buyers dominate the market, but the high RSI could indicate a potential pullback. The RSI’s moving average sits at 50.94, highlighting the sharp increase in buying pressure.
The Chaikin Money Flow (CMF) indicator reads 0.41, demonstrating significant inflows of capital. This reflects strong market confidence and buying interest. Positive CMF values typically indicate bullish trends.
The moving averages also point to continued strength. A golden crossover, where the 50-period moving average crosses above the 200-period moving average, occurred recently. This is a strong bullish signal, often forecasting a sustained upward trend. The current price remains well above both moving averages, emphasizing the strong momentum.
The key resistance lies at $5.00, which is an all-time high. A successful breakout above this level could propel the price toward $5.50 or even $6.00 in the near term. On the downside, the first support level is at $4.50. If this breaks, the price might test $4.00, where further support lies.
The golden crossover reinforces bullish sentiment. However, traders should watch for a potential retest of support levels, as sharp rallies often lead to profit-taking. If the 50-period moving average remains above the 200-period MA, it will support a longer-term uptrend. Overall, breaking above $5.00 could confirm the next leg of the uptrend, while failure to hold $4.50 may lead to a deeper correction.
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