MANTRA (OM) Price Prediction: Can MANTRA Make a New All-Time High This Month?

MANTRA (OM) price continued its bullish streak and was on the cusp of a multi-month breakout. The market trend and technicals appear poised to initiate a new bullish cycle above the $1.42 ATH mark soon.

MANTRA (OM) price continued its bullish streak and was on the cusp of a multi-month breakout. The market trend and technicals appear poised to initiate a new bullish cycle above the $1.42 ATH mark soon.

Since the first week of September, OM crypto saw a V-shaped recovery and surged over 50% last month. A rounding bottom pattern was observed, and the OM price edged closer to the crucial neckline barrier of $1.40.

A successful breakthrough above $1.40 would validate the ATH breakout. This could send OM crypto toward the $2 mark in the following sessions.

MANTRA price traded at $1.36 at press time, noting an intraday surge of over 1.89%. It was positioned as the 62nd largest crypto with a market cap of $1.25 Billion.

It has a circulating supply of 916.80 Million, and the OM/BTC pair was traded at 0.0000219 BTC.

The daily timeframe analysis showed that OM crypto was mired in a parabolic upward movement. It has created a bullish streak in the past six days, surging more than 15% this week.

The Daily RSI supported the bullish outlook; it rests in the overbought zone, at 73 at press time. This conveyed a heightened buying pressure on the chart.

Moreover, the MACD indicator plotted the green histogram readings. It indicated a bullish stance.

Crypto traders and analysts on X positively view the future OM price trend. A tweet by @neil_xbt in his post said that OM crypto showed a sustained upward movement despite the weak market cues.

It has a strong support of around $0.85 and may reach the $2 level by the end of this year.

Furthermore, a tweet by @Blockunity highlighted that the OM crypto price is testing a crucial resistance zone at around $1.40. Above this mark, new highs are imminent.

However, the prompt support zone was around $1.10. From the indicators’ view, trend identifiers and magic bands represented a strong bullish momentum, favoring the rise.

Since September 2024, MANTRA’s TVL saw a significant surge, noting around $13,442 at press time.

This substantial surge in TVL reflected the growing investor confidence in the network. Hence, the OM price rose.

Looking at the futures market, the Open Interest (OI) surged by over 16.82% to $32.96 Million. This signified the long buildup activity over the past 24 hours.

More than $29.54k of short liquidations were noted. At the same time, only $8.7k of long liquidations were now. It conveyed that short traders were in a dilemma and looked in fear.

The immediate support zone was $1.20 and $1.10. In contrast, the upside barriers were $1.42 and $1.60.

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