$SOL /USDT BEARS GAIN MOMENTUM – SUPPORT UNDER PRESSURE BELOW $149!
$SOL /USDT is showing weakness as it breaks below short-term support near $149, with a strong bearish candle forming on the 1H chart. Multiple failed attempts to reclaim the $151–$152 range signal exhaustion from buyers, opening the door for a potential further decline.
Trade Setup:
Short Entry: 148.50 – 149.20
Take Profit (TP): 146.80 / 145.00
Stop Loss (SL): 150.60
Outlook: Market structure favors sellers with lower highs forming consistently. If bears maintain momentum below $149, price may test deeper demand zones. Watch for any bounce attempts near $146.8 as potential reversal spots.
Command: Stay sharp — bears are leading this dance!
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The recent sharp decline in $OM's price—from approximately $6 to $1—can be attributed to significant changes in its tokenomics, as officially announced by MANTRA.
What Changed? $OM
To support the launch of the MANTRA Chain mainnet, the project introduced a new tokenomics model that includes:
Doubling the Token Supply: An additional 888,888,888 OM tokens were minted, increasing the total supply to 1.78 billion OM.
Transition to an Uncapped Inflationary Model: Moving away from a fixed supply, OM adopted an uncapped inflationary approach to provide flexibility for future growth and ecosystem incentives. Overview | MANTRA Chain
New Allocations: The newly minted tokens are allocated to various purposes, including:
OM Upgrade: Rewards for existing stakers.
Genesis Airdrop & Incentivized Testnet: Tokens to promote MANTRA Chain’s usage and attract community participation.
Core Contributors: Incentives for team members, investors, advisors, and active contributors. Mantra
📉 Why Did the Price Crash?
The sudden increase in token supply led to immediate market reactions:
Dilution of Existing Holdings: Doubling the supply reduced the value of existing tokens, leading to a sell-off.
Market Uncertainty: The shift to an inflationary model introduced uncertainty about future token value, prompting further selling.
Unlocking Events: Upcoming token unlocks, such as the 7.07 million OM scheduled for April 18, 2025, may have contributed to selling pressure. CryptoRank
🛡️ Binance's Warning
In response to these changes, Binance issued a warning on the $OM trading pair, highlighting the significant alterations to its tokenomics and the substantial increase in token supply.