![]Why Is Mantra (OM) Price Gaining While Crypto Markets Fall? Analyst Explains](https://captainaltcoin.com/wp-content/uploads/2024/01/image-758.png)
An analysis from Daan Crypto Trades presents the Mantra (OM) token as one of the most promising high-timeframe charts in the crypto market. According to Daan’s assessment, OM has maintained an upward trend despite the challenging volatility and consolidation phases that have impacted much of the crypto market.
Besides, his analysis, combined with a recent strategic partnership between MANTRA and Libre, could position OM for further growth. MANTRA’s new collaboration with Libre will allow access to prominent onchain funds, including BlackRock’s ICS Money Market Fund, amplifying its appeal in digital asset management.
What you'll learn 👉
Strong Uptrend Amid Market Volatility
Analyzing Daan’s chart shows OM’s resilience over the past months, highlighting its solid uptrend structure. The token has achieved a series of higher highs and higher lows, marking a consistent upward trajectory despite shifting market conditions.
OM’s ability to sustain an upward path through periods of “chop and chaos,” as described by Daan, reinforces its reputation as a robust asset in the high-timeframe chart landscape.
OM’s chart further shows successful breakouts from consolidation phases, confirming investor confidence and buying interest. By breaking past resistance zones, OM has managed to establish new support levels, marking steady progress amid broader market uncertainty.
Key Support and Resistance Levels Identified
The chart indicates key support and resistance levels, critical for assessing OM’s potential next moves. A primary support zone appears around the $1.00 level, which OM tested in previous months before breaking through in mid-year. Furthermore, this $1.00 support level has since served as a base, confirmed by multiple retests.
Recent trading data shows resistance emerging between $1.40 and $1.50, suggesting potential for further growth if OM breaks past this level. Gray zones on the chart, highlighting areas of previous consolidation and resistance. This levels provide context for potential price movement and highlight where OM may face challenges or confirm new levels of support.
Moving Averages Support OM’s Upward Momentum
The 50 and 200 moving averages provide additional support to OM’s bullish trend. The 200-day moving average aligns closely with the $1.00 support level, reinforcing its significance as a foundation for future price action.
A retest of the 200-day MA around $0.99 to $1.00 could offer buyers a potential entry point, maintaining the bullish structure as long as prices remain above this support level.
With the trend indicators pointing upward, OM’s overall price action aligns with Daan Crypto’s optimistic view, suggesting that the token is well-positioned to continue its ascent if it holds these crucial levels.
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Strategic Partnership with Libre Expands Opportunities
In tandem with OM’s technical momentum, MANTRA recently announced a partnership with Libre, aimed at expanding investment options on its platform. This collaboration enables MANTRA users to access a range of prominent onchain funds, including the BlackRock ICS Money Market Fund.
Additionally, Libre’s CEO, Dr. Avtar Sehra, described the partnership as a step forward in providing accessible tools for wealth management, benefiting from MANTRA’s real-world asset infrastructure.
JP Mullin, MANTRA’s CEO, expressed enthusiasm about the alliance, noting that the Libre Gateway integration adds a valuable layer to MANTRA’s offerings, enhancing its position within the digital asset ecosystem. Moreover, this partnership aligns with MANTRA’s commitment to providing a comprehensive digital finance platform, further fueling its growth and appeal among investors.
The combined momentum of OM’s technical performance and MANTRA’s expanding ecosystem through partnerships like Libre underscores its potential as an asset with both strong price action and utility growth.
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