The OM price has displayed a strong bullish recovery overnight, highlighting increased buying pressure for the altcoin in the cryptocurrency market. Moreover, the bulls maintained the value above the $6 mark. This resulted in the Mantra price recording a positive bounceback.
Will the rising uncertainty push the price of Mantra toward a new ATH this week? In this article, we have covered the short-term market sentiment and possible short-term Mantra (OM) price analysis just for you!
OM Price Records A Strong Bullish Reversal!
The Mantra price has jumped over 13% in 24 hours with a trading volume of $514.128 million, a change of +21.56%. Reportedly, this altcoin has displayed a significant price action since the year started, highlighting increased price action.
Furthermore, it has surged 52.92% over the last 30 days and has a Year-to-Date (YTD) return of 55.96%. With a market capitalization of $5.787 billion, it has secured the 25th position in the global cryptocurrency market.
Mantra Technical Sentiments
The Simple Moving Average (SMA) constantly acts as a support to the OM price chart. This indicates a strong bullish sentiment for the altcoin in the crypto space.
Moreover, the Relative Strength Index (RSI) continues hovering around the overbought range in the OM price chart. On the other hand, the average trendline acts as a support, highlighting a positive outlook for the Mantra price in the upcoming time.
How High Can an Om Coin Go?
If the bulls maintain dominance, the Mantra price will retest its immediate resistance level of $6. Maintaining the price above that level could set the stage for this altcoin to head toward its upper target price of $7 this month.
Conversely, a bearish reversal could pull the price of this altcoin toward its support level of $5 this week. Furthermore, a sustained bearish action could pull the OM coin price toward its lower support level of $4.
Planning on investing in OM crypto coin but concerned about its future prospects? Read the latest Mantra price prediction!
FAQs
Amid increased adoption in the crypto space, the OM crypto could range between $14.52 and $29.64 by the year 2030.
With a sustained bullish sentiment, the OM coin price could reach a maximum trading price of $8 this year.
At the time of writing, the value of one Mantra token was $5.8856.
