$OM
🚨 What’s Happening With MANTRA (OM) Price? 🚨
OM’s recent price behavior marks a sharp departure from its prior range-bound structure. After weeks of compression, a breakout above the $0.40 resistance zone triggered a large bullish candle on the 4-hour chart. This breakout also coincided with a clean breach of a descending wedge pattern, which had contained price action since mid-April.
Notably, the spike stalled just under the Fib 1.0 extension level at $0.463, with candles failing to close above it. Price is now retracing toward the 61.8% retracement level near $0.421, a zone that may act as near-term support.
The EMAs on the 4H chart are flipping bullish, with price trading above the 20-EMA ($0.398) and 50-EMA ($0.400), while the 100-EMA and 200-EMA remain lagging above. Bollinger Bands are expanding following the breakout, with price hugging the upper band—typically a sign of elevated OM price volatility and an impending decision point.
