MANTRA's native token, OM, has experienced significant volatility, notably a sharp 92% decline from over $7 to just $0.66 on April 13, 2025. This dramatic drop has led to renewed interest among traders looking to capitalize on potential reversals.
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š Current Market Snapshot
Current Price: $0.3049
24-Hour Change: +0.0331 (0.033%)
Intraday High: $0.3067
Intraday Low: $0.2947
The price is currently consolidating within a range, indicating potential accumulation before the next significant move.
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š Fibonacci Analysis and Entry Targets
Based on Fibonacci retracement levels, the following entry zones and targets are identified:
61.8% Retracement Zone: $0.180 ā $0.205
Strategy: Consider entering long positions with low leverage, aiming for a 50% upside potential.
78.6% Retracement Zone: $0.050 ā $0.070
Strategy: Spot buy opportunity with a significant upside potential of approximately 11,000% to the all-time high (ATH).
These levels are derived from the Fibonacci sequence, which traders use to identify potential support and resistance zones.
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š Technical Indicators to Watch
Weekly RSI: Approaching oversold conditions, suggesting a potential reversal.
Volume Analysis: Monitor for increased trading volume as confirmation of breakout or breakdown.
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š”ļø Risk Management
Stop-Loss Levels: Place stop-loss orders below the 78.6% retracement level to manage downside risk effectively.
Position Sizing: Utilize low leverage, especially when entering near the 78.6% zone, due to the high volatility.
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š Conclusion
OM presents intriguing opportunities for traders utilizing Fibonacci analysis. The identified entry zones offer potential for significant returns, but it's crucial to implement sound risk management strategies. Always conduct thorough research and consider market conditions before making trading decisions.
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*Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.*