OM’s price movement lately is turning heads as it hit a new all-time high of $5 amidst a broader downturn in Bitcoin’s price. The coin has surged 27.90% in the past 24 hours, with its trading volume skyrocketing by over 170%, indicating heightened activity and strong market interest. At writing, Mantra sits at $5.87. The surge coincides with key developments surrounding Mantra and broader investor sentiment.
What you'll learn 👉
Mantra Chart Analysis: Breakout Chart Signals Bullish Momentum
OM’s price action reveals a decisive breakout above a long-term consolidation zone around $3. The breakout, accompanied by a substantial increase in volume, marks a sharp upward trend that has seen the price soar nearly 90% since the breakout point.
The $3 level served as a crucial support zone during the consolidation phase and is likely to act as a strong floor if the price retraces. The breakout candle is large and decisive, underscoring the bullish sentiment among traders. The next resistance level is anticipated around $10, as indicated by the chart’s upward projections.
The Role of Fundamental Catalysts
Market observers attribute the pump to several key developments, most notably the $1 billion DAMAC tokenization deal and Mantra’s planned $20 billion expansion in the United States. The tokenization initiative has positioned Mantra as a leader in the real-world asset (RWA) space, earning it institutional backing.
This narrative was reinforced by crypto expert Henry, who described OM’s price breakout as a “clean break” to new highs on X. He also emphasized OM’s relative strength as Bitcoin continues to struggle, further fueling optimism for the coin’s potential to reach the $10 milestone.
Read Also: Hedera Price Rally ‘Ready to Continue,’ Says Expert, Predicting Epic 2025 for HBAR
Relative Strength Amid Bitcoin’s Weakness
Bitcoin’s price has been down lately, but OM keeps climbing higher. The fact that OM’s price can reach new peaks while Bitcoin falls shows that investors believe in its core strengths. The rising volume and price activity signal sustained interest in the project and its long-term prospects.
With the combination of bullish technicals and strong fundamentals, Mantra (OM) is firmly on the radar of crypto traders and investors, setting its sights on further price milestones soon.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
