🚨🚨🚨 $OM (MANTRA) DAILY TA: Signs of Revival After Prolonged Downtrend!
After months of heavy bleeding and consolidation near lows (down ~99% from ATH ~$9), $OM is finally showing real signs of life on the daily chart. The RWA narrative is heating up, and price action + volume confirm buyers stepping in aggressively.
Key Observations (Daily Timeframe):
- Price Action: Strong bullish candle today with a ~12-16% pump (current ~$0.064–$0.066 range, depending on exchange). Broke above recent highs around $0.06 after bouncing from ~$0.055 lows.
- Volume Surge: 24h volume exploded to $110M–$120M+ (massive increase), often a precursor to sustained moves
- Momentum Shift: Clear reversal from extended downtrend. Recent weeks showed consolidation/accumulation with higher lows forming, now breaking out.
- Moving Averages: Price reclaiming shorter-term EMAs (e.g., likely crossing above 20/50-day in progress). Longer-term 200-day still overhead but momentum building.
- Indicators: RSI likely pushing out of oversold/into bullish territory (mid-50s+). MACD histogram flipping positive with crossover potential.
Support & Resistance Levels:
- Immediate Support: $0.055–$0.058 (recent low/breakout zone)
- Key Support: $0.050 (psychological + prior structure)
- Resistance: $0.070–$0.075 (next major hurdle)
- Higher Target (if momentum holds): $0.09–$0.10 short-term, with extension potential toward $0.15+ on continued RWA hype.
Outlook: Bullish short-term bias. Increased volume + price rejection of lows screams capitulation end and fresh buyer interest. RWA sector momentum (MANTRA as L1 play) adds fundamental fuel.
Watch for close above $0.07 to confirm strength; failure to hold $0.058 could retest lows.
As always not financial advice! DYOR, manage risk, OM showing life, could this be the start of something bigger? What do you think?
"The market rewards the sharp & patient; be both."