 appears to have emerged from a bullish flag, possibly paving the way for a climb toward $10.){kind=link}
The price trajectory of Mantra ($OM) has been indicating bullish signals with many wondering how the price might transcend in the future. Ali Martinez via a X post wrote, “Mantra ($OM) looks to have broken out of a bullish flag, potentially setting up a move toward $10.”
At the press time, the token is trading at $7.52, up over 2.35% as compared to the same time last day. The market cap of the token at present stands at $7.3 billion.
$OM Token Shows Bullish Momentum
The Mantra platform’s native token, $OM, has just emerged from a bullish flag formation and is now displaying a bullish trading pattern. Following a period of stabilization, this technical pattern frequently indicates that the rising trend will continue.
Increasing interest in decentralized finance (DeFi) and the increasing ecosystem of the Mantra platform are driving the token’s rising velocity. But market volatility is still an issue, just like with any cryptocurrency asset.
Also Read: Mantra ($OM) Whale Churns $38.7K Investment into $6.27M Return, Price Surges Over 22%
$OM Short Term Prediction: What To Expect?
Due to its recent breakthrough from a bullish flag pattern, the short-term price prediction for $OM is mainly hopeful. In the upcoming weeks, the token’s price may rise significantly and maybe approach important resistance levels if it continues on its upward track.
$OM may reach new heights because to the robust technical indications and the ongoing interest in decentralized finance (DeFi) initiatives like Mantra.
Short-term swings could be problematic, though, as market volatility is always an issue. Any updates about the DeFi space or the larger cryptocurrency market could have an effect on $OM’s price movement. Because of the erratic market conditions, prudence is suggested in the short term even though the outlook is favorable.
$OM Technical Indicators: What Do They Say?
According to market indicators, the Fear & Greed Index for $OM is currently at 49 (Neutral), while the attitude is bullish. MANTRA DAO has 21.37% price volatility over the previous 30 days and 16/30 (53%) green days.
The overall MANTRA DAO price forecast attitude is bullish and of the technical analysis indicators, 27 indicate bullish signs, while six indicate bearish indications.
Market indicators also predict that MANTRA DAO’s 200-day SMA will increase over the course of the upcoming month, reaching $ 3.75 by March 23, 2025. Additionally, in the coming month MANTRA DAO’s short-term 50-day SMA is predicted to reach $7.23.
An indicator that is widely used to determine if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum oscillator.
The RSI number is 70.82 at the moment, indicating that the OM market is overbought. The price of OM is expected to rise, according to the RSI indicator.
Also Read: MANTRA Investor Moves $1.98M Worth of OM Tokens From Binance, Price Jumps 54%