$OM

As of May 10, 2025, Mantra (OM) is witnessing a remarkable recovery on Binance, trading at a price close to $0.4575. This represents a significant increase of 23.47% over the past 24 hours, with a trading volume of $480.62 million and a market capitalization of $442.46 million.

This rise follows a turbulent period in April when the price of OM dropped by nearly 90% due to massive liquidations across exchanges and a large sell-off of tokens, leading to liquidations exceeding $66 million within 12 hours.

Recent technical analysis indicates that OM shows signs of recovery. Short-term moving averages have started to stabilize, indicating potential stabilization and upward momentum. Analysts have identified a key resistance level at $0.58; a successful break above this level could lead to a new rally.

Additionally, the Mantra team has begun the process of token burning to reduce supply, aiming to restore investor confidence and achieve balance. While these developments are promising, it is essential to proceed with caution, as the cryptocurrency market remains highly volatile.

For traders and investors, it will be crucial to monitor OM's ability to maintain this momentum and break resistance levels to assess its potential for continued recovery.