MANTRA PRICE ANALYSIS & PREDICTION (February 19) – OM Increases 30% Weekly to Sustain Long-Term Rally, Incoming New High
After a short pullback from the recent all-time high (ATH), Mantra’s native token found support nearby and resumed bullish rapidly. It currently looks set to explode higher following a 6% surge overnight.
OM has yet to slow down buying after posting a mind-blowing gain in the past two years of trading. It has continued to see a significant increase as the demand level rises weekly, though the continuous decline in the volume indicator is something to worry about on the daily chart.
However, its price hit a new ATH of $8.2 following a three-day surge from around $5.5. That surge came after consolidating for three days and the price broke out. OM pulled back slightly from the recent high last week and stayed well above $7. It bounced back from there and now appears strong on the daily scale.
While showing signs of strength today, the price appears strong and is now on the verge of breaking higher amid rising demand. A new ATH should be expected soon.
There’s currently no sign of bears in the market. If the price drops, the market may retrace back to the $3.17 level. A drop off this level could trigger a short-term bearish. But currently, the bulls are still in control.
OM’s Key Levels to Watch
Source: Tradingview
Aside from, the recently marked $8.2 high, there’s no major resistance for OM on the way up. The key level to consider for a new high is $10, followed by $15 in the near term.
The broken previous $6.48 high is now marked as support. If the price drops below it, the lower support level for a test would be $5.27. Below this price level lie $4.4 and $3.74.
Key Resistance Levels: $8.2, $10, $15
Key Support Levels: $6.48, $5.27, $4.4
- Spot Price: $7.6
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: marketlan/123RF // Image Effects by Colorcinch
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