Mantra’s price has surged by 24% in the past 24 hours and is currently trading at $4.20, while trading volume has surged by 33% to $728 million as of 2:10 a.m. ET.
Mantra’s price began to rise sharply on Saturday, November 16, when the project announced in a post on X that it would have big news soon. No details have been released yet, but the announcement was enough to excite the project community and trigger a rally.
The weekend surge is just the latest in a string of price surges for Mantra over the past week, pushing the project’s price up by more than $2,051,000.
Last Monday, November 11, the OM price was $1.379, just climbing around the $4.50 resistance level. The coin had just reached its all-time high of $4.47 3 hours ago.
This level rejected OM, causing the price to fall to $4.20, but this support might be strong enough to prevent further declines.
Mantra Price Prediction
While Mantra’s price has generated huge gains for many holders over the past week, traders and investors are very curious as to whether the OM token has the potential to continue rising or if it is too late to buy Mantra now.
The project’s technical indicators suggest that Mantra has now reached a certain level of stability after being rejected by the $4.50 resistance level. The project’s Bollinger Bands narrowed slightly over the past few hours before stabilizing.
Meanwhile, Mantra price had pushed above the upper band over the weekend but has now dropped below the midpoint between the two bands where it is settling at a price of $4.20.
The same can be said about the project’s Relative Strength Index (RSI) value, which crossed the threshold of the overbought zone a few hours ago. This led to some OM token holders taking profits, pushing the RSI and the token price down together.
The RSI subsequently reached the neutral zone at 50.84 and has been fluctuating between values of 50 and 51 since then.
In other words, Mantra has achieved stability so far, although this stability may not last long. With the project announcement imminent, if the team soon reveals what they are working on, OM prices may break out to the upside again, triggering another rally.
On the other hand, traders may sell for profit in the next few hours, trying to profit before the project falls into the oversold zone. In other words, the price is likely to move in a certain direction; where it will go will depend on the announcement or the sentiment of the broader market.
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