Market Analysis

MANTRA PRICE ANALYSIS & PREDICTION (February 6) – OM Nears An Exhaustion Point After Posting Massive Gains, Potential Reversal At Hand

Mantra has been gaining traction for the past couple of days following a daily 30% increase. It has overcome a lot of obstacles in the latest surge as the price nears the buying target level. The surge may end soon.

While most altcoins almost reached their top during the pre-bull run in late 2023, OM initiated a buy and started to pick up. After flipping through $0.03, it slowly built up and later surged near $0.132 in January. 

It faced resistance and initiated a drop for the first time in a month. After pulling back for three days, it found support above the $0.07 level and bounced back quickly. 

After retaking the important $0.1 level, OM struggled around the price level for days and continued to break barriers. The price hit $0.191 today after registering a mind-blowing gain over the past few days. 

The main target level for the latest rally is $0.21. The price appeared to be reaching an exhaustion point following the current daily rejection, but there’s still room for an increase on the daily. 

A continuous rejection under the mentioned target level could lead to a decline. If that happens, OM may witness a serious dumb. So far, it has returned a total of 700% profits in the past 90 days as more potential surge is underway.

OM’s Key Levels to Watch

Source: Tradingview

A push above the current daily high could soar the price to $0.21 before it starts to dump. If the price further increases, the higher price levels to watch for a test would be $0.23 and $0.25. 

The potential support levels to consider for pullbacks right now are $0.16 and $0.131. A drop below these support levels could sink the price to the important $0.1 level, where a major breakdown is likely to occur.

Key Resistance Levels: $0.191, $0.21, $0.23

Key Support Levels: $0.16, $0.131, $0.1

  • Spot Price: $0.173
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: fantasticstudio/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *