$OM Eyes Recovery: Token Burn Sparks Bullish Momentum
OMUSDT surged over 55% to $0.36 after Mantra’s CEO proposed a major token burn to restore investor confidence. The price bounced from $0.23 low, forming a bullish flag on the weekly chart. Short-term technicals suggest upside potential toward $0.338–$0.38 if $0.312 support holds, with stop-loss near $0.293. Volume and MACD show early bullish divergence.
Over 300M tokens (~8% of supply) have been burned, signaling deflationary intent. While a return to $6 is unlikely short-term, speculative spot trades targeting $0.34–$0.70 are in play if momentum continues. Key resistance zones are $0.38, $0.59, and $0.71. A clean breakout could shift sentiment fast. Caution advised: long-term trust still needs rebuilding.