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- The volume has surged by 250% in the last 24 hours.
- Mantra crypto price has risen by 70% in the past 10 days.
The OM crypto price has jumped by more than 2000% since the beginning of 2024. The price has taken support on the major support level of $0.650 and has reached an all-time high.
The digital asset price triggered a breakout from the parallel channel and gained 20% after the retest. The Mantra price has remained bullish as it trades over the key moving averages.
At press time, the Mantra crypto price traded at $1.08 with an intraday gain of 4.57%. The market capitalization is $859.38 Million, and the 24-hour trading volume is $163.49 Million. The circulating supply is 793,991,274 OM, and the total supply is 888,888,888 OM.
Volume Has Dropped Violently
The data suggests that the trading volume has dropped violently this month, but the MANTRA crypto price has remained bullish. The trading volume remained constant in May, and a sudden rise was observed at the beginning of June.
In the first 2 days, the volume surged by 600% but has dropped from $150 Million to $60 Million till now. The trading volume does not support the recent bullish momentum, so short-term selling can be expected.
Mantra to Approach $2 Mark Soon?
is $OM the Next $ONDA like breakout to pump here?? Place your bets, I already did pic.twitter.com/XvP01SxExS
— Cameron Fous (@Cameronfous) June 10, 2024
A source on X compared the OM crypto with ONDA in terms of the pump after the breakout. His technical analysis suggests the price has been bullish and triggered a breakout from an ascending triangle pattern. After this breakout, the OM price will soon knock the $2 hurdle.
OM Price Has Triggered a Breakout From an Ascending Triangle; What’s Next?
The Mantra price triggered a breakout from the triangle after a complete consolidation of 5 days at a crucial breakout level. The trading volume does not support the recent bullish momentum.
Suppose the bulls remain strong, the price may keep surging further. If the price takes a pullback and volume increases, the price may gain a bullish momentum.
If the MANTRA price slips below the $0.900 level and sustains, this breakout might be turned into a fake breakout. A fake breakout could trap buyers, resulting in intense selling pressure.
Based on the technical indicators, the OM price is trading over the key moving averages. At the beginning of June, the histograms flipped to green, which shows the bulls’ domination. MACH has formed green histograms and developed a golden crossover with the Signal line. Overall, the technical indicators are in favor of bullish momentum.
Conclusion
Mantra crypto (OM) has recently experienced significant price surges and trading volume fluctuations. The price has reached an all-time high and remains bullish, trading over key moving averages. However, caution is advised as a sudden drop in trading volume may indicate potential short-term selling. Technical analysis suggests a bullish trend, and a breakout from an ascending triangle pattern presents the possibility of further price surges.
Technical Levels
The OM crypto price is expected to face resistance from the imaginary resistance level of $1.20 and $2.00. The price may take support at the $0.650 and $0.320 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
