Markets
MANTRA (OM) Price Prediction to Watch
TL;DR
- Mantra (OM) surged nearly 15% last week, outperforming major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) during a market correction.
- Analysts suggest that OM could hit new highs if it breaks key resistance levels, supported by strong RSI and MACD indicators signaling continued bullish momentum.
The best performer
Mantra (OM), the second-largest real world asset (RWA) by total market capitalization, is among the best-performing cryptocurrencies of the past week. Its price has increased by almost 15% over this period, outperforming Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and many others, which remain deep in the red due to the sharp correction seen a few days ago.
According to some analysts, OM could record additional gains in the near future. A user X claims The token’s value could reach a new all-time high of $1.20 if it breaks through the major resistance level of $1.05. The range of $0.55 to $0.60 has been described as a “support zone.”
Some indicators also indicate that OM’s rally is far from over. The Relative Strength Index (RSI) measures the speed and evolution of price movements and is currently together around 60. A ratio above 70 is considered bearish as it indicates overbought conditions.
Another technical analysis tool worth watching is the Moving Average Convergence Divergence (MACD). It identifies potential buy and sell signals and, according to data from TradingView, is currently positioned in the “buy” zone.
Cryptocurrency markets continue to overcome latest crash
As mentioned above, not all cryptocurrencies are in the green like Mantra’s OM. Recall that Bitcoin (BTC) tumbled On July 5, ETH dropped below $54,000 (its lowest level in five months), while Ethereum (ETH) plunged below $2,900. Both assets have rebounded from what appeared to be their local lows and are currently worth around $55,600 and $3,100, respectively.
Ripple’s XRP performed even worse, to crash The stock price hit a one-year low of $0.39. In the following days, it erased some of its losses, with its value rising above $0.43 (a 10% drop on a weekly basis).