Mantra (OM) Price Analysis: Is Moonshot to $15 Coming?

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As our dear Bitcoin, that elusive creature, flounders around the $100,000 mark like a fish out of water, the Mantra (OM) Network has decided to throw a rather splendid recovery party. With a breakout rally that has the audacity to flirt with an all-time high near the $8 mark, the OM token is strutting its stuff like it owns the place. 💃

Mantra is not just any altcoin; it’s the belle of the ball in this volatile market. As the broader market prepares for a new altcoin season, one can’t help but wonder if it will shoot to the moon with a flourish. Will this recovery reach the $15 mark? Let’s don our monocles and take a closer look at the current market situation, shall we?

OM Price Rallies with Flag Breakout

In the daily chart, the OM token price is having a delightful romp with a bullish breakout of a flag pattern. Within this flag, the Mantra price trend has created a symmetrical triangle pattern after a rather impressive surge of over 200% in November. Quite the spectacle! 🎩

Mantra (OM) price chart

With a 15% surge on January 25, Mantra broke the triangle pattern, continuing its higher-high formation and creating a new all-time high at $7.90. Bravo! Currently, it trades at a market price of $7.592, after a charming recovery of 5% yesterday. The bullish rally has surpassed the 50% trend-based Fibonacci level and is now headed to challenge the 78.60% level. How daring! 🥂

The exponential resistance is priced at $8.24, likely signaling a buying opportunity with a potential breakout. Based on the Fibonacci levels, this bullish breakout may very well challenge the 1.272 Fibonacci level at $14.32. A round of applause for our dear Mantra!

Thus, the breakout rally is likely to confirm the price action analysis and set an upside potential of more than 80%. The MACD indicator is positively aligned, and the Simple Moving Averages are also maintaining a bullish alignment. It seems the technical indicators are quite enamored with this bull run! 🎉

Whale Accumulation Fuels Mantra Price Rally

Over the past year, whale support in Mantra has surged like a soufflé in a hot oven. According to the balance by holding indicator from IntoTheBlock, whales have been accumulating, and their holdings have significantly increased. Quite the feeding frenzy! 🐋

On February 19, 2025, the balance of those holding more than $10,000 in Mantra stood at a staggering $202 million. Since then, the holdings have ballooned to $6.72 billion. An astronomical rise of over 3,200% in just a year! The growing support and rising demand for Mantra are likely to fuel the bull run ahead. How positively thrilling! 🎈

Potential Mantra (OM) Cooldown Ahead?

Now, let’s not get too carried away, shall we? Ali Martinez, our ever-cautious crypto analyst, signals a potential cooldown in Mantra. According to the TD Sequential Indicator over the 3-day chart, the 530% bull run since October 2023 is bound to take a short-term pullback. A moment of silence, please. 😬

#MANTRA $OM may be set for a pullback after surging 530% since October, as the TD Sequential indicator presents a sell signal on the 3-day chart!

— Ali (@ali_charts) February 19, 2025

However, the growing demand and the possibility of a new altcoin season could very well continue the bullish rally for a new all-time high. Fingers crossed! 🤞

Conclusion: A Short-Term Retracement before $15?

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2025-02-19 13:47