OM Price Surged 150% In 3 Days; What’s Cooking In MANTRA?

• MANTRA price has jumped by 200% in a week.
• OM price has recorded a new all-time high (ATH) of $4.47 today (Nov 18).

After a consolidation phase, the MANTRA (OM) price has displayed a giant bullish rally and has reached a new ATH. Since the beginning of 2024, the OM price has received continuous elevation and has secured a 5000% gain. However, it has climbed by 150% which indicates the buyers’ strength.

In the short term, a bullish trend in the MANTRA price has interrupted near the $4.50 hurdle. Here, a short-term profit booking can be anticipated or a mild dip can be seen. Let’s explore where OM price could head for.

Technical Analysis of OM Price Over 1-D Timeframe

When writing, MANTRA crypto was trading at $4.17 which has declined by 1.31% over the past 24 hours. Its market capitalization was $3.74 billion and the 24-hour trading volume was $772.18 Million. The trading volume has increased by 33% which shows new capital inflow.

If the MANTRA price manages to hold the $4 level, it could be a bullish sign. Bitcoin is a leading coin so its price behaviors could impact the OM price’s momentum. If BTC price dominates the $90K territory, a positive impact on altcoins can be anticipated.

If the price surpasses the last swing high, major buying pressure can be received. Here, trading volume and social community could play a vital role in the further momentum. Once the price starts trading over the $5 mark, the OM price could lead to a bullish trend for a longer period.

On the other hand, if the digital asset price loses the $4 mark, holders might panic. If a panic situation is generated here, a negative impact on OM price could be analyzed. If the price starts trading below the $3 mark, it would be difficult for buyers to bounce back.

Turning to the technical indicators, the OM price has exceeded the key moving averages showcasing bulls’ dominance.

OM Price Analysis and Forecast

On the 4-H time frame, the bullish rally halted near the $4.25 mark and underwent a short-term consolidation phase. If the price displays positive momentum, it could remain bullish for the next few days.

Alternatively, sellers would dominate if the crypto asset price loses this short-term consolidation phase.

The recent performance of OM signals a robust bullish momentum, particularly with its price surge to an all-time high of $4.47. The impressive gains include a 200% increase in just a week and a staggering 5000% since the start of 2024. It underscores strong buyer interest and market confidence.

However, the price action around the $4.50 resistance level suggests the potential for short-term profit-taking or consolidation.

Monitoring the $4 mark will be crucial. If OM sustains at this level, it will trigger strong upward movement. That momentum would be enhanced if the broader market trends align with Bitcoin’s performance.

Conversely, falling below this threshold may instigate panic selling and significant downward pressure, making it challenging for buyers to regain momentum.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.