CryptoLog

Hey everyone, just sharing my latest thoughts and a small operation on Mantra (OM/USDT). As of today, May 16, 2025, OM is trading around the $0.395 - $0.40 mark. While it's seen a bit of a dip in the last 24 hours, it's actually up around 7-9% over the past week, which caught my attention.
My rationale for this trade is a mix of recent news and a potential technical setup. We've heard about significant token burns for OM recently and plans for more by the end of May, which could be a positive catalyst by reducing supply. Also, some technical analysis I saw earlier in the week (around May 12th) indicated the RSI was heading towards oversold territory, suggesting there might be room for a bounce.
Given the slight recovery from the lower $0.36-$0.37 levels seen about a week ago, and the current consolidation around $0.40, I've decided to enter a cautious long position at $0.398. My stop-loss is set relatively tight at $0.378, just below the recent support I've observed. I'm targeting a modest profit that takes around $0.425, which aligns with some short-term resistance levels and the positive price predictions I noted from earlier in the week. If we see a strong break above that, I might hold a portion for a move towards $0.44. This feels like a speculative play on a short-term recovery, considering the recent positive news against the broader market volatility. #Mantra #OMTrading #CryptoLog