Coinspeaker
MANTRA (OM) Up 100% This Month: Analyst Predicts $10 Soon
Real-world asset (RWA) protocol MANTRA
OM
$7.57
24h volatility:
1.7%
Market cap:
$7.36 B
Vol. 24h:
$410.81 M
soared a staggering 109% in the past month alone, becoming the top trending cryptocurrency on CoinGecko in the last seven days. Meanwhile, crypto analyst Ali Martinez identified a bullish flag breakout in OM’s price action, predicting a 33% increase from current levels.
Bullish Narrative Surrounds OM
In a post on X, Martinez suggested that the token could reach $10 soon owing to the bullish flag pattern, a continuation pattern that typically signals a strong upward move following a consolidation phase. As per the chart below, the breakout occurred near the $7.30-$7.50 range with immediate resistance around $8.30-$8.50. Based on the flagpole height projection method, the altcoin is expected to hit $10.
According to CoinMarketCap data, MANTRA was trading at $7.5 at press time, up 2.33% in the past day and 35% in the past week. The nearest support levels for the cryptocurrency stand at $7 and the 20-day exponential moving average (EMA) at $6.59. The nearest resistance is at $8.23, which needs to be flipped for further upside, or else a retest of the 20-day EMA is likely.
It is also important to note that crypto exchange Haskey Global announced the launch of OM perpetual futures trading just a few hours ago via an X post. This could result in bringing more trading volume, making price movements more fluid, and potentially attracting institutional investors. However, leverage amplifies both gains and losses, which could lead to sharp price swings in the near future for MANTRA.
Also, MANTRA was listed on the exchange Crypto.com on February 20th, providing the digital asset with a new investor base. As the popularity of RWA tokens surges, investors can expect the rally to continue.
MANTRA Price Analysis
As clear from the chart below, the RSI (Relative Strength Index) for MANTRA price action reads a value of 67, slightly below the overbought threshold of 70. This indicates strong buying momentum but suggests that a minor pullback or consolidation could occur before another leg up as traders are expected to capitalize on the gains made so far.
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Source: TradingView
Also, the MACD (Moving Average Convergence Divergence) shows that the MACD line (blue) is currently above the signal line, with a bullish histogram, confirming positive momentum and a continuation of the uptrend. If OM maintains support above $7 and breaks through key resistance levels, a run to $10 could be imminent.
MANTRA (OM) Up 100% This Month: Analyst Predicts $10 Soon
