- MANTRA (OM) has increased by 8.85% over the past week, indicating bullish momentum.
- Trading volume has surged by 169.75%. A breakout above $0.33 is the next target for OM.
- OM’s market cap has reached $279.91 million, reflecting renewed investor interest.
MANTRA (OM) has posted an impressive recovery, climbing 8.78% over the past week and nearly 2.67% in the last 24 hours. At the time of writing, OM is trading at $0.2669, signaling a revival in bullish sentiment amid broader market hesitation.
OM’s 24-hour trading volume surged by 161.91% to $196.3 million, while its market capitalization now stands at $274.98 million, placing the token among the notable mid-cap gainers.
Mantra Technical Indicators Flash Bullish Signals
The price is nearing the upper Bollinger band at $0.334, while the lower band is at $0.2021, suggesting rising volatility and a potential bullish breakout. The Relative Strength Index (RSI) is at 55.25, crossing over the neutral region and indicating rising buying power.
At the same time, the MACD shows a bullish crossover with the MACD line (0.00079) rising above the signal line (0.00170), confirming the early stages of a possible uptrend.
A breakout above $0.30 could clear the path to $0.333, followed by further gains toward the $0.35–$0.38 range, aligning with historical resistance and the Bollinger Band ceiling.
Also Read: Following a Crash, MANTRA (OM) Shot up 16.76% and is Now Trading for $0.408
Derivatives Data Backs Bullish Momentum
Interest in OM is gathering pace in the derivatives market, with trading activity seeing an impressive surge. Trading volume surged by 193.25% to reach $444.02 million.
Meanwhile, open interest rose by 17.79% to $131.04 million, signaling increased speculative activity and a fresh influx of capital into the market.
Despite the funding rate being at -0.1242%, which is an indication of some short-side pressure, the rising open interests along with trading volume indicate a possible continuation of the bullish rally.
If OM can stay over the $0.30 level and take out the $0.333 resistance level, it may gain enough steam to aim for the $0.35 to $0.40 levels.
However, failure to clear this significant resistance could lead to a short-term correction. Regardless, OM still has impressive momentum on the charts with the suggestion of more upside near term.
Also Read: MANTRA CEO Burns $82M in OM Tokens to Rebuild Trust After $5B Crash
