Mantra (OM) Outperforms Bitcoin (BTC) and Ethereum (ETH) This Week: Here\'s Where It May Go Next

Mantra (OM) – the second-largest real-world asset (RWA) by way of whole market capitalization – is among the many best-performing cryptocurrencies up to now week.

The second-largest real-world asset (RWA) by way of complete market capitalization, Mantra (OM), is among the many best-performing cryptocurrencies up to now week. Its worth is up nearly 15% for that interval, outpacing Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and lots of extra, which stay deep within the purple because of the extreme correction witnessed a number of days in the past.

In keeping with some analysts, OM can file further beneficial properties within the close to future. One X person claimed the token’s worth may spike to a brand new all-time excessive of $1.20 ought to it break above the main resistance degree of $1.05. The $0.55-$0.60 vary was depicted as a “help zone.”

Sure metrics additionally sign that OM’s rally is way from being over. The Relative Power Index (RSI) measures the pace and alter of worth actions and is at the moment set at round 60. A ratio of over 70 is taken into account bearish because it signifies overbought situations.

One other technical evaluation instrument value observing is the Transferring Common Convergence Divergence (MACD). It identifies potential purchase and promote indicators, and in accordance with TradingView’s information, it is at the moment positioned within the “purchase” space.

Crypto Markets Nonetheless Overcoming the Latest CrashAs talked about above, not all cryptocurrencies are within the inexperienced like Mantra’s OM. Recall that Bitcoin (BTC) tumbled beneath $54,000 on July 5 (the bottom degree in 5 months), whereas Ethereum (ETH) plunged below $2,900. Each property have rebounded from what appeared like their native bottoms and are at the moment value round $55,600 and $3,100, respectively.

Ripple’s XRP carried out even worse, crashing to a one-year low of $0.39. Within the following days, it erased some of the losses, with its worth rising above $0.43 (a ten% decline on a weekly scale).

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