Over the last week, Mantra’s price has surged, moving beyond its previous resistance range. In this impressive rally, the token broke free from the $3 zone and reached key Fibonacci levels, with OM demonstrating robust upward momentum. Following the chart analysis and insights shared by crypto expert Quinten on X, OM’s latest movements highlight the potential for further price discovery as it enters new trading ranges.
What you'll learn 👉
Mantra Key Price Movements and Resistance Breakout
Quinten stated that OM made an impressive 61% price increase, surpassing the $4.50 resistance. This break was a significant milestone for the token, as the $3 to $4.5 range had previously served as an area of consolidation. The breakout suggests a shift in market sentiment and could mark the beginning of a new price cycle for OM.
The analyst further mentions that the OM’s price has reached the 1.272 Fibonacci extension at $5.16, which aligns with the first major target. The chart analysis confirms this movement, illustrating the breakout above the $4.50 level and highlighting the strong upward momentum. As OM continues its price discovery phase, the 1.618 Fibonacci extension level at $5.56 is now a crucial focus for traders.
The Role of Fibonacci Levels in Mantra Price Discovery
Fibonacci levels are a common tool for predicting potential price targets and areas of resistance. The price has now hit 1.272, and traders are watching to see if it’ll reach the next big level at 1.618. Looking at the chart, if it breaks above 1.618, we could see it push even higher toward the 2.618 mark at $7.15.
Everyone’s watching to see what happens at these key points. If OM holds steady above where it is now and keeps pushing up, we might see more gains. But if it struggles to break through, it could end up trading sideways for a while.
Read Also: Here’s Why XRP Price Won’t Stay Flat For Too Long
Market Sentiment and Future Outlook
Things are looking good for OM right now – it’s broken out of its previous trading range and the price is moving strong. What happens next really depends on whether it can keep this momentum going as it approaches that 1.618 level. Traders are keeping their eyes on those next big targets at $5.56 and $7.15, as these will likely determine where OM’s price goes from here.
This recent price movement from Mantra shows how quickly things can change in crypto, and why technical analysis matters so much when making trading decisions. How OM behaves around the next Fibonacci levels will provide a clearer picture of its potential for further growth soon.
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