Mantra (OM) Rises 6.75% Amid Market Downtrend, Trades at $5.39
- Current Price: $5.39 (+6.75% in 24 hours)
- Resistance Level: $5.45 | Support Level: $5.25
- Market Cap: $5.19 billion (+6.47%) | Trading Volume: $436.32 million (+155.42%)
Mantra (OM) Defies Market Trends with Strong Performance
Despite a struggling altcoin market, Mantra (OM) has demonstrated impressive resilience, recording a 6.75% gain in the last 24 hours. The token is currently trading at $5.39, with a market capitalization of $5.19 billion, marking a 6.47% increase. Its trading volume has surged by 155.42%, reflecting heightened investor interest.
However, the token remains a short-term trading option due to significant whale influence. Mantra’s circulating supply stands at 963.76 million OM out of 1.8 billion total, giving it a strong market presence with a fully diluted valuation (FDV) of $9.7 billion.
Technical Indicators Point to Potential Breakout
A breakout above $5.45 resistance could push the price toward $5.75, while a drop below $5.25 may lead to a test of the $5.00 support level.
- RSI (14): 57.88 (bullish momentum)
- Chaikin Money Flow (CMF): 0.32 (strong buying pressure)
- Moving Averages: Short-term (20-period) crossing above long-term (50-period), indicating a possible bullish reversal
What’s Next for Mantra (OM)?
If Mantra sustains its bullish momentum and breaks past $5.45, it could trigger a strong rally. However, failure to hold above support levels may result in corrections. Traders should monitor key levels closely for further price action.
