OM’s price dropped a few days ago before recovering to reach record highs. Crypto expert Autumn Riley has highlighted OM’s strong performance on X (formerly Twitter), pointing to its integration of real-world assets on the blockchain. The token’s growth has been supported by new partnerships and interest from major financial players, helping it bounce back after a slow period.
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Mantra Price Movement and Trends
The OM chart reveals a steady upward trend since January 27th. The price movement is marked by higher highs and higher lows, reflecting increasing bullish sentiment. The token peaked at $6.2950 after breaking out of a consolidation zone near $5.84-$5.90. Notably, volume surges accompanied these moves, reinforcing strong buying momentum.
The chart also highlights an event labeled a “fakeout,” where Mantra’s price briefly dipped below the ascending triangle pattern before recovering swiftly. This recovery established a robust upward trajectory, aligning with the bullish outlook suggested by the chart patterns.
Key Patterns Observed in OM Price Chart
The Mantra chart displays multiple ascending triangle formations, often regarded as bullish continuation patterns. These patterns culminated in a breakout, signaling further upward momentum. The “fakeout” event below one of these triangles may have triggered stop-losses, but the price quickly rebounded, reflecting resilience in the token’s movement.
Support levels are evident around $5.00, serving as a structural base, with additional support near $5.50. Resistance levels, meanwhile, include the recent high of $6.2950, with future resistance anticipated around $7.00 based on market trends.
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Moreover, Autumn Riley’s tweet underscores the strong fundamentals driving OM’s growth, citing “big deals” and “trusted institutions” as key factors. MANTRA’s initiative to bring real-world assets on-chain appears to have resonated with the market, contributing to the token’s increased demand. The tweet also highlights OM’s ability to recover strongly after dips, aligning with the price patterns seen on the chart.
Outlook for OM Price Movement
The breakout from consolidation suggests a potential for continued upward momentum, especially with strong volume supporting the move. While OM faces resistance at $6.2950 and possibly $7.00, its upward trend and integration of RWAs position it as a token to monitor closely. This combination of technical and fundamental factors indicates a promising trajectory for OM’s price in the coming days.
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