Bullish Flag Formation Indicates Potential Upsurge for MANTRA (OM) Token
Hold On to OM: Bullish Signals Spur Optimism Amid Consolidation
MANTRA (OM) has left quite an impression in the crypto world after a jaw-dropping 100% surge in the past month, following a massive $1 billion tokenization deal and whale activity galore. But is this bull run here to stay? Check out these insights from our research:
Are We in For Another Rally?
The 4-hour MANTRA/USDT chart reveals a crack in the bullish armor with a resistance level nearing $6.29, a spot where past attempts at breakouts fell flat. However, a powerful bull run pushed OM's price to almost $8.00. The asset is now consolidating within a lanky down-sloping channel, which has some traders thinking a bull flag formation might be at play – a setup often indicative of continuation if resistance at $7.80 is broken.
Support Builds and Bullish Indicators
Bear with us as we delve deeper into the dynamics, starting with the MACD histogram displaying waning bullish power and the signal line creeping closer to the MACD line. Hold your horses! The RSI still clings on at above 50, pointing to strong market sentiment tempering the correction. The $6.29 level now graces the stage as support, setting the stage for an upward move.
1-Hour Timeframe: Shades of a Breakout?
In the heat of the moment, let's focus on the 1-hour chart, which sheds light on OM's early-stage bull flag pattern. The price action reveals a plunging channel with solid support at $7.10 and resistance peaking at $7.80. There's a catch though: volume has dwindled since the initial rally, suggesting lower buying pressure is on the cards. Yet, the market structure still paints a grim picture, with lower highs and lows, signaling consolidation. If OM breaks above resistance, it could kick off a fresh bullish wave.
So, What's the Verdict
If OM can bend but not break above $6.29 and breaks out of the bull flag, the stars may align for further gains. If it stumbles and falls below, you might be in for a round of consolidation. But fret not, indicators suggest the market is rooting for that bullish breakout.
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In case you're wondering, the overall outlook for MANTRA (OM) strikes varying chords among experts, with estimates for potential price movements and key resistance and support levels as follows:
Short-Term Outlook (2025):
- After a devastating 90% plummet in April 2025, OM's near-term prospects remain bearish, with potential retests at lows around $0.35–$0.40 unless dramatic new developments arise.
- Some estimates predict a price range between $0.35 and $1.89 for 2025 – a true testament to the crypto market's twists and turns.
- A more ambitious estimate of $2.0124 has been proposed, though it seems more of an outlier compared to contemporary forecasts.
Long-Term Outlook (2026–2030):
- By 2026, OM might swing between $0.19 and $0.68, reflecting continued bear market conditions.
- By the mid-2030s, predictions are more positive, with potential prices ranging from $6.20 to a new all-time high of $15.67 on the condition that market conditions brighten and MANTRA regains its luster.
Key Resistance and Support Levels:
- Resistance: The $1.00 mark his a formidable hurdle, where OM must break through to signal a recovery.
- Support: Levels near $0.35–$0.40 are critical battlegrounds, upon which OM might find solace or rebound if market sentiment mellows.
Technical Indicators:Take note: the Supertrend indicator triggered a buy signal for months, then shifted to a sell signal, while a "death cross" appeared on MACD as of recent – bearish signals that nevertheless hint at a potential reversal once market conditions change.
Tacking it all up, while MANTRA (OM) faces some steep hurdles in the short term, its long-term prospects hinge on market trust and positive developments. Make sure to keep your fingers crossed!
- The MANTRA/USDT chart indicates a potential bull flag formation, suggesting continuation if the resistance at $7.80 is broken, indicating a future bullish wave.
- The RSI on the MANTRA chart suggests a strong market sentiment that is tempering the correction, with the $6.29 level acting as support for a potential upward move.
- The overall outlook for MANTRA predicts a bearish near-term with potential retests at $0.35–$0.40, but long-term projections show potential prices ranging from $6.20 to $15.67 by the mid-2030s, assuming market conditions brighten and MANTRA regains its luster.
- The Supertrend indicator for MANTRA has shifted to a sell signal, but hints at a potential reversal once market conditions change, indicating the importance of continued monitoring of technical indicators.
