Mantra ($OM) has seen a dicey trajectory, with the coin falling below expectations. However, Ali Martinez via X says, “The most critical resistance barrier for Mantra is $7.60, where 1,080 investors hold over 167 million $OM. A breakout above this level could clear the path for new all-time highs.”
The prediction comes at a time when Mantra is trading down. At the press time, the coin is trading at $6.96, down 2.93% as compared to the same time last day.
$OM Price Prediction: Can it Rise to $7.60?
The price of Mantra ($OM), which has been shown significant promise in the cryptocurrency market, is mostly dependent on its capacity to overcome significant resistance levels.
If Mantra can break past the $7.60 level, the price may indicate a bullish move and could pave the way for new all-time highs if it can break above this level.
As investors try to take advantage of the upward momentum, this may create prospects for higher demand. However, if the price is unable to overcome the $7.60 resistance, the market may test the token’s resilience and cause consolidation or a price decline.
Given the resistance level around $7.60 and the overall state of the market, the coming weeks will be critical for Mantra. This crucial level will be actively monitored by traders for indications of a breakout or rejection.
Mantra Price: What Will Help The Token Rise?
The future growth of Mantra ($OM) in the cryptocurrency market may be influenced by a number of variables. First, demand for the token may be greatly increased if its decentralized finance (DeFi) ecosystem is developed and adopted successfully.
The usefulness of $OM would increase with more users using its staking, lending, and governance capabilities, which might raise its value.
Second, investor confidence may be bolstered by favorable sentiment surrounding the larger cryptocurrency market, which might increase demand in tokens like $OM.
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Furthermore, the token’s visibility could be increased by solid alliances and partnerships with other blockchain initiatives or financial institutions.
Lastly, projects like Mantra, which have these qualities, can be favored by the market’s general emphasis on decentralized governance and staking solutions. $OM’s future growth may be secured with further use cases and ongoing innovation in the DeFi field.
$OM Technical Indicators: What Do They Say?
Mantra ($OM)’s technical indicators point to a possible bullish outlook. There is potential for more price action in either direction as the Relative Strength Index (RSI) is trading close to neutral levels.
Furthermore, a crossover above the short-term moving average may indicate a purchasing opportunity, according to moving averages.
Increased trading activity may validate the strength of any possible breakout, so keep an eye out for volume spikes.
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