Mantra Price Rises By Double Digits On 500% Volume Explosion – Is The Breakout Imminent?

Mantra price shows new signs of life with over 10% jump and huge increase in trading volume — is OM about to breakout?

An impressive price increase

Over the past 24 hours, Mantra (OM) price has increased by more than 10%, while trading volume has increased by more than 500%. This upward movement is mainly due to its listing on Upbit, the largest exchange in South Korea.

Post-crash consolidation

After a dramatic drop from a high of $6,26 on April 13 to an intraday low of $0,42, OM price entered a period of tight consolidation. Between May 1 and May 20, the price mainly fluctuated between $0,37 and $0,42, with lows around $0,36–$0,38 and highs capped at $0,42–$0,43.

A breakthrough in sight

With the recent breakout, OM closed above $0,43, after which the price even rose to $0,49. This marks a retest of the local resistance that was last seen on May 10, when the price closed at $0,47.

Technical indicators give hope

The Relative Strength Index (RSI) is still in the deep oversold area with a value of 28. However, the MACD momentum is showing a bullish signal: the MACD line is above the signal line and the histogram has been printing green for almost a month now.

Future Resistances and Opportunities

If volume and momentum continue, the next immediate resistance lies in the $0,60–$0,70 zone — this was a previous key support from late March to late June last year. A break above this resistance could open the way to $0,85 and eventually $1,20, both significant horizontal levels from previous consolidation ranges. “Is the sky the limit for OM?”

A cautious optimism

Despite the listing on Upbit and the spike in volume, it remains to be seen whether this breakout will hold or fade, like the outlier on May 10th, when the price fell back into the range. However, recent developments provide reasons for cautious optimism. The addition of Nansen as a validator on the MANTRA Chain gives the project institutional credibility, and the 300 million OM fire — including 150 million from the founder — shows a strong commitment to rebuilding trust and strengthening tokenomics.

Frequently Asked Questions

What does the recent price increase mean for investors?
The recent price increase could be a sign of renewed confidence in the token and offers investors an opportunity to reconsider.

What are the main factors that influence price?
Exchange listings, market sentiment and technology advancements all play a significant role in Mantra's pricing.

What can we expect from the future of Mantra?
With the new developments and strong fundamentals, Mantra's future could be promising, especially if the momentum continues and investors remain interested.

The world of crypto is dynamic and full of possibilities. Let's follow these exciting developments together and discover where the journey will take us!