OM Token Sees Boost In Investor Confidence, Climbs to the Top of the Gainers List

The OM token had been trading at tolerable levels for more than three years before the bull run began at the beginning of 2024.

The OM token price soared on Thursday, continuing its impressive rally. At the time of writing, the coin had surged over 14%, trading at $1.05, as per data from CoinMarketCap.

A glance at the weekly chart reveals a remarkable surge of nearly 30%.

Boosted by Investor Confidence

Before the bull run began in early 2024, the OM token had been trading within a moderate range for over three years. Its last significant rallies occurred between October 2020 and March 2021, indicating that Mantra (OM) has been undergoing a bull run on higher timeframes. In 2024, the momentum was strong enough to propel OM into another一波increasing frenzy.

Following the announcement of Mantra's partnership to advance real-asset tokenization on the network, OM soared, reaching its all-time high of $1.09 in June. Since then, Mantra has been consolidating, oscillating between $0.60 and $0.80. Last week, it saw an 11% surge, leading to a weekly high of around $0.89. Ranked 108th on CoinMarketCap, OM has managed to hold on to its $0.7 price point despite the bearish times.

What's Driving Mantra Token's Surge?

Several factors have contributed to the current success of OM. The DeFi, staking, and lending components of MANTRA's ecosystem have garnered significant interest and utility for the token. The platform's innovative features and strong community support have fueled demand for the token, leading to its remarkable pricing performance.

Moreover, the importance of resilience and diversification in cryptocurrency portfolios has been highlighted during the recent market downturn. Promising projects like MANTRA have captured the attention of investors seeking alternatives to established tokens like BTC and ETH, contributing to the surge in OM's price.

Future Price Predictions for OM

According to current price projections, MANTRA's price is expected to rise 224.90% in the coming months to reach $3.17. Analysts' data and other technical indicators show that the current sentiment is bullish, with the Fear & Greed Index reading 29 (Fear) at the moment.

In the past 30 days, MANTRA has had 13/30 (43%) green days and 10.39% price volatility. There is also a bullish overall mood for MANTRA's price prognosis, with 28 technical analysis indicators signaling bullish and 3 bearish.

Several key technical indicators support the bullish outlook for OM's price. The Relative Strength Index (RSI), which measures the speed and magnitude of recent price movements, currently stands at around 60. This level indicates that OM is not yet overbought or oversoldupon the RSI scale, leaving room for further price appreciation. A ratio above 70 is typically bearish, denoting overbought conditions.

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