Shoveled Into The Enveloped Growth Of Mantra (OM) So Far In Deta

2 ago

OM had delivered a 3100% spike from $0.0324 to $1.044 by April 11th, 2024, a remarkable journey starting in 2024 after an elongated 2023 flat price structure.

The massive bullish impulse from bulls was witnessed from the $0.2170 level, where the $0.71 zone was the sturdiest. At this level, the price had taken a lot of retests amid multiple broader market dips, but the asset had not wavered at all from the $0.71.

The consolidation was nearly over around June 24th, 2024, when the price displayed a rocketed move of more than 120% gains in a month. This led to the formation of an all-time high.

The ATH did witness slight profit booking from the cruisers, as investors and whales kept their holdings intact. This led the price to form a support at $1.10 and appears headed to complete the pullback by piercing through the ATH of $1.41 ahead soon.

The last two weeks had caused other indicators to depict the pullback as bearishness, but it's not been ascertained yet.

As it has not breached successfully dynamic supports of 50-day and 200-day EMA yet. Meanwhile, the bearish cross has been displayed in MACD above the zero line, where the histogram was at negative 0.021, and RSI swept below 14-SMA, where it took support from the median line and currently flashed at 56.16.

Therefore, based on current optimism, the price could have another launch, where the new ATH would be the first resistance, and the other would be the round number $2.0 or nearby. But, on the contrary, the breach of $1.10 would generate a decline, eyeing $0.90 and $0.71 supports, respectively.