Mantra (OM) price has been on a strong upward trajectory, recently reaching a new all-time high and gaining nearly 20% over the past week. This surge has been supported by strengthening technical indicators, showcasing strong momentum and a clear uptrend.
The combination of bullish EMA alignment and favorable metrics like ADX and Ichimoku Cloud suggests the rally may extend further, with the potential for new highs in the coming days. However, if the uptrend loses momentum, OM could test key support zones that will determine the sustainability of its recent gains.
OM’s Uptrend Is Getting Stronger
The ADX for OM has climbed from nearly 16 to 26.48 in just one day, highlighting a significant increase in trend strength.
An ADX above 25 typically signals a strong trend, and this surge indicates that OM is transitioning from a weak or sideways market to a clear and potentially sustained movement.
ADX, or Average Directional Index, measures trend strength on a scale from 0 to 100. Values below 20 show weak trends, while values above 25 signal strength.
With OM’s ADX at 26.48, the market is confirming an uptrend, supported by growing momentum and a stronger directional push, suggesting further gains could be on the horizon.
Ichimoku Cloud Shows OM Trend Is Bullish
The Ichimoku Cloud chart for OM price shows a bullish trend forming. The price has broken above the cloud (Kumo), which typically signals an uptrend.
Additionally, the cloud ahead (Senkou Span A and B) is green, indicating positive momentum and potential support levels. The price staying above the cloud further supports the likelihood of continued upward movement.
The Tenkan-sen (conversion line) is above the Kijun-sen (base line), another bullish signal suggesting that short-term momentum is stronger than the longer-term trend.
The lagging span (Chikou Span) is also positioned above the price, confirming that recent price action strongly supports the current trend. Together, these elements highlight a strengthening bullish sentiment for OM.
OM Price Prediction: New Highs Soon?
Mantra’s EMA lines currently exhibit a strong bullish alignment, with the price trading above all of them and shorter-term EMAs positioned above the longer-term ones. OM is one of the leading coins in the real-world assets ecosystem today and could benefit heavily if this narrative keeps growing.
This structure reflects solid upward momentum, reinforcing the notion of a sustained uptrend. The recent price action supports this bullish outlook, as OM price has managed to maintain levels well above key EMA thresholds, which often serve as dynamic support during uptrends.
Combining insights from the ADX and Ichimoku Cloud metrics, OM’s recent breakout to a new all-time high of $1.85 could signal the start of an extended rally. If the bullish momentum continues, further attempts at new highs are plausible in the coming days, as the narrative around real-world assets (RWA) recovers traction.
However, if the uptrend falters and reverses, the OM price may test its first strong support zone around $1.35. Should this level fail to hold, the price could decline further, potentially reaching as low as $1.25, a critical area of support.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Tiago Amaral
https://beincrypto.com/mantra-om-price-all-time-highs/
2024-11-16 02:00:00
