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MANTRA price has increased by 16% in the past 24 hours
, trading at $1.066
As of 03:44 a.m. ET, trading volume surged 245% to $101 million.
MANTRA Price Expected to Surge in Bullish Triangle
Since mid-April, MANTRA price has been trading in a range between $0.060 and $0.80. In June, OM bulls gained dominance, pushing the price above the $0.87 resistance, according to GeckoTerminal data.
MANTRA price has been fluctuating inside a bullish triangle, which has enabled the bulls to push the coin above the triangle, pushing it to a new all-time high (ATH) of $1.09.
OM remains well above the 50-day and 200-day simple moving averages (SMAs), confirming the bullish upside potential.
Moreover, the relative strength index (RSI) is at 67, rising towards the overbought zone of 70. If the bulls maintain their bullish stance, the RSI can surge to the overbought zone of 70, which is a strong buying signal.
The Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line crossing the orange signal line, forming a bullish crossover. With this bullish crossover, investors can prepare for more buy positions, pushing the token price higher.
Green bars on the histogram are starting to appear above the neutral line, showing that MANTRA is in positive momentum.
MANTRA Price Prediction
MANTRA price technical analysis shows that OM is poised to surge to a new ATH in the coming days, having broken out of the upper boundary of a bullish triangle pattern with bulls aiming to create a new ATH at $0.18.
Major technical indicators support the overall bullish outlook, with the RSI and MACD showing the asset to be highly overbought. In addition, the 50-day SMA crossed the 200-day SMA, forming a golden cross at around $0.71, further supporting a continued bullish stance.
However, the RSI and MACD indicate that the asset is highly overbought, which could trigger an upcoming price correction. In this case, $0.92 would act as an immediate support zone, in line with the 50-day SMA.
Meanwhile, as OM prices surge, investors are flocking to the 99Bitcoins crypto token presale, which has raised more than $2 million.
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