Mantra (OM) price has surged by over 35% in the past 24 hours, hitting a record high above $7. This spike has propelled OM’s market cap to $7.3 billion, making it one of the leading Real-World Assets (RWA) tokens, surpassing ONDO.
The trading volume has skyrocketed, leaping by 455% to $851 million, indicating a surge in market interest. As the momentum gathers pace, crucial technical indicators suggest that OM’s upward trend remains robust without being overly extreme.
OM ADX Indicates Strong Uptrend, Not Yet Peaking
Mantra, a prominent player in the RWA space, has surged by more than 90% in the last month.
The ADX has soared from 12.9 to 24.8, underscoring the notable strengthening of the trend. This rapid increase signifies that OM’s current uptrend is gaining traction, with momentum building behind its price surge.
A stronger ADX implies that buyers are taking charge, reinforcing the trend and enhancing its short-term sustainability. This growth in momentum could attract more traders seeking to benefit from the increasing trend.
The ADX is a vital indicator gauging trend strength, where values below 20 signify weak or non-trending conditions, and figures between 20 and 40 point to a solidifying trend. As OM ADX presently stands at 24.8, the trend is consolidating but not yet at extreme levels.
Should the ADX continue to climb, it might confirm a stronger bullish momentum, possibly triggering more dynamic price movements. Conversely, a flattening or decreasing ADX could hint at the trend losing steam.
Ichimoku Cloud Highlights Bullish Momentum
OM has broken out significantly, surging well beyond the Ichimoku Cloud. This recent leap has positioned the price in a robust bullish territory, with the cloud trailing way below.
This movement indicates a substantial momentum shift as OM's price transitioned from a consolidation phase to an assertive rally. The separation from the cloud suggests that bullish momentum is firmly in control, with no immediate signs of weakness.
The leading span of the Ichimoku Cloud is now trending upwards, confirming the strength of the trend. Moreover, the conversion and baseline lines have closely followed the price surge, showcasing the sudden spike in momentum.
With the lagging span comfortably above the price movement, the configuration reinforces the ongoing bullish trend. However, the cloud's decreasing size might suggest a potential slowdown in the uptrend.
OM Price Forecast: Is the Surge Sustainable?
Mantra price has achieved a new all-time high, breaching the $7 mark for the first time ever. This positions OM as one of the leading RWA tokens, overtaking ONDO in market cap.
The breakout solidifies the strong bullish momentum. If the uptrend continues to reinforce, OM price could surge further, potentially reaching $8 for the first time.
A continuous move above critical levels would enhance confidence in the rally, drawing in more momentum-based buyers.
Nevertheless, if the upward trend weakens, a retracement to test support at $6.48 could be on the cards. A breach below this level might lead to further downside, with key support levels at $5.26 and, in the event of a more pronounced downturn, $4.37.