Simplified and exclusive technical analysis for currency $OM MANTRA (OM) after the sudden crash and burn announcement:
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✅ Current Price
Current Price: Approximately $0.2739
Highest Price Today: $0.2747
Lowest Price Today: $0.2468
Daily Change: +0.09%
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🔥 What Happened Recently
The project team transferred 3.9 million OM to the OKX platform, causing panic and a significant price drop of nearly 90% within an hour.
In response, the team announced a burn of 300 million OM (150M from the team + an additional 150M) to restore confidence and reduce supply.
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📉 Impact of the News on Price
After the drop, the price rebounded by +25% supported by the burn news and improvement in technical indicators.
The funding rate increased and the number of open positions rose, indicating new liquidity entering the market.
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📊 Simplified Technical Analysis
Element Value
Strong Support $0.25
Nearby Resistance $0.29 – $0.30
Bullish Target If $0.30 is broken → we might see $0.35
Bearish Risk If the price drops below $0.25 → it could fall to $0.23
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🧠 Simplified Recommendation
Watch the $0.30 level, if it breaks consistently with good trading volume, it would be a good buying opportunity.
If the price returns to $0.25 and bounces from it, it is considered a suitable area to enter cautiously.
Make sure the burn is actually executed and monitor its impact on the market.
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