Amid the latest bloodbath, Mantra showed strength today as it continues to post gains on a daily scale. It currently appears bullish and looks set for a bigger price movement as new surge underways.
Looking back from August, when it initiated a resh buy from the $0.84 level, OM’s performance has been remarkable. Demand keeps rising daily, and it broke through several resistance levels and recently reclaimed the $1.4 level.
That level is holding tightly but losing it may trigger a drop capable of bringing a short retracement before locating a solid ground. But from the look of things, the bulls are likely to sustain momentum for a while.
Currently, the price looks strong daily with a potential surge above the $1.48 level, marked as a new high on Monday. A surge through this level could skyrocket the price to a new milestone.
While the trend remains bullish on the macro-outlook, OM has returned 100% profits in the last 90 days of trading. This price gain was triggered by daily increase in the demand level. If it turns out low, we may see drops before rising back.
Failure to rise back may result in a huge dump below $0.08, which could lead to the end of its bullish cycle. In terms of profit, OM remained one of the best performers in the Real Word Asset zone over the past months.
OM’s Key Levels to Watch
Source: Tradingview
Breaking through this week’s $1.475 resistance could fuel a huge rally to a new high. The nearest levels to keep in mind for a break are $1.6 and $1.8. If these price level flips, the next key level would be $2.
Right now, the $1.3 level provides support. If the price dips below it, $1.256 and $1.1, along with $0.9, are the next levels to consider for support.
Key Resistance Levels: $1.475, $1.6, $1.8
Key Support Levels: $1.256, $1.1, $0.9
Spot Price: $1.4
Trend: Bullish
Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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