Why Is Mantra (OM) Price Gaining While Crypto Markets Fall? Analyst Explains

As the global crypto market faces downturns, Mantra’s (OM) price refuses to obey this trend. Top analyst World Of Charts updated his followers on X (formerly Twitter) that Mantra has achieved over 30% profit despite market crashes linked to Middle East conflicts.

Over the past day, Mantra’s price has seen a 6.30% pump. Its trading volume also saw a massive 202.02% increase, which means people are showing more interest in the token. At press time, Mantra is trading at $1.30.

World of Charts noted that OM’s price is “going towards targets while markets are crashing across the board.” This performance has attracted investors looking for opportunities in a volatile environment.

Mantra (OM) Chart Analysis: Breakout Signals Bullish Reversal

World of Charts OM’s chart shows a descending channel that the price broke out of in mid-September. This breakout is a bullish signal, indicating a potential reversal from the previous bearish trend.

However, breaking above the descending channel suggests a shift in market sentiment. Traders often see such breakouts as chances to enter long positions. The sustained movement above the channel reinforces the bullish outlook.

Image Source: X/WorldofCharts

Since the breakout, OM’s price has steadily increased. The token remains above the breakout level, suggesting buyers are controlling the market. This aligns with WorldOfCharts’ observation of a 30% profit run.

The consistent price rise indicates growing investor confidence in Mantra. The consolidation after the breakout may signal the market is preparing for further gains. Market participants are monitoring volume and price action for additional clues.

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +

Mantra (OM) Price Outperforming Amid Geopolitical Tensions

The crypto market is declining due to geopolitical tensions in the Middle East. Despite this, Mantra’s (OM) price shows resilience. Its upward movement contrasts with general market sentiment, highlighting its strength.

Mantra’s market performance amid turbulence suggests its potential as a hedge against broader market risks. Investors may turn to OM as an alternative, given its recent bullish trend. This divergence from market trends is noteworthy for analysts and traders.

Read Also: Why Is Wormhole (W) Price Pumping?

Mantra’s Potential Targets Ahead

World of Charts implies that OM’s price may continue to reach higher targets. The token’s ability to sustain gains while the market declines may attract more buyers. Traders are watching for potential resistance levels that OM’s price might test soon.

Moreover, monitoring key technical indicators will be essential for those looking to capitalize on this momentum. The consolidation phase could precede another upward move, according to analysts.

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

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
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.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Boluwatife Afe
Boluwatife Afe

Boluwatife is a dedicated content strategist specializing in the crypto industry and is passionate about blockchain technology and digital currencies. With a keen eye for emerging trends and a talent for making complex topics accessible, Boluwatife aims to educate and inspire the crypto community through engaging and insightful content.

CaptainAltcoin
Logo