The OM coin (Mantra Chain project) is showing a noticeable spike today — +26% in 24 hours, trading around $0.15 after a deep pullback. Trading volume — ~$380 million, indicating an active recovery of interest from speculators.
📊 Technical picture:
• Key levels:
• Support: $0.118–0.12
• Resistance: $0.167–0.17, above that — the zone $0.20
• EMA(7) crosses EMA(25) from below → a signal of local recovery.
• RSI(6) around 70 — overbought on small timeframes, a correction is possible before the next impulse.
• Volumes are increasing, confirming the influx of fresh money after a strong decline.
🔍 About the Mantra project:
Mantra Chain (OM) is a DeFi infrastructure built on Cosmos SDK, focusing on tokenization of real assets (RWA) and staking.
The project is actively developing its own ecosystem and recently announced the launch of Mantra Chain Mainnet, which has sparked a surge of interest.
🚀 What to expect next:
• After a decline of more than -89% over the year, the current recovery could be the beginning of a medium-term uptrend, especially if the price consolidates above $0.17–0.18.
• However, without fundamental news, the movement could be purely a technical 'pump.'
• It is important to monitor the price reaction in the $0.16–0.17 zone — a breakout upwards will open the way to $0.20–0.25, while a pullback will lead to a retest of $0.12.
📈 Summary for the trader:
Locally — a rebound phase, there is still growth potential, but the risk is elevated.
A good strategy is to take partial profits when approaching $0.17–0.18 and wait for a consolidation above $0.20 for medium-term positions.
#OM #mantra #cryptotrading #altcoins #Binance
