After a series of hot growth days, OM (MANTRA), the token of the MANTRA DAO ecosystem, is undergoing a deep correction as the price plummets more than 90% within a week. In the past 24 hours, OM continues to drop sharply by over 25%, trading around $0.61, causing many investors who 'fomo'd' to be in turmoil.
1. Market chart: Selling pressure is still intense
Current price: $0.61
24h trading volume: $1.26 billion USD
Total circulating supply: ~969 million OM
Market capitalization: $594 million USD
This is a sign of strong sell-off pressure, which may stem from profit-taking after the recent pump or concerns about short-term risks in the altcoin market.
2. Technical signals: Caution is required
Daily RSI: below 30 indicates the oversold zone, but there are no clear signs of a reversal yet.
Short-term resistance: $0.75 – $0.85
Key support: $0.45 – $0.50
High selling volume accompanied by rapid price drops often signals a panic sell phase. If the price cannot hold above $0.50, the downtrend may continue.
3. Long-term perspective: One should not rush to 'let go'
MANTRA is not just an ordinary DeFi project. They are building a Layer 1 blockchain focused on tokenizing real-world assets (RWA) – one of the major trends in Web3 in the near future. With a 'compliance-first' approach, MANTRA could become a bridge between the traditional financial world and Web3.
4. Conclusion
$OM is in a deep correction zone after hot growth. Short-term investors need to be extremely cautious, while long-term investors can monitor strong support areas to consider averaging down (DCA).
As always, the market will always have opportunities. The question is who has enough patience to survive the storm.
