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$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?
$ICP "The market rewards the sharp & patient; be both."
#OM #MANTRA #RWA #CryptoTA