- Mantra’s OM surged 8,592%, reaching $9.17 and aiming for the $10 milestone.
- Fibonacci levels suggest $11.16 next, with strong buying pressure keeping momentum alive.
- RSI hints at a pullback, but traders seek opportunities in new range formations.
Mantra—OM, has recently been unstoppable. The price soared 8,592% since February 1, marking an 86x gain. Even from January 1, OM surged 133%. While other cryptocurrencies like Bitcoin and Ethereum stayed range-bound, OM pushed higher. The latest all-time high reached $9.17, with the psychological $10 mark now in sight.
How High Will OM Rise?
November’s rally set key Fibonacci extension levels. Each resistance level at $5.31, $6.58, and $7.84 later became support. If this trend continues, new targets emerge at $11.16 and $11.94. Since a deep retracement has not occurred, these extension levels remain valid. Momentum indicators show mixed signals. The RSI has yet to form a bearish divergence, though a warning looms. Higher highs in price contrast with RSI struggling to match the movement. A lower timeframe pullback could develop. Meanwhile, the OBV keeps rising, showing strong buying pressure.
Will OM Ride the Momentum?
February’s rallies followed a distinct pattern. Mantra’s OM formed a range, dipped below the low, and then skyrocketed 50%. The recent breakout originated from a similar range formation. Traders may wait for another range to develop.
A liquidity sweep could offer a chance to buy at lower levels before another surge. Risk remains a factor. The market can shift quickly, turning bullish setups into failed trades. A strict exit strategy is necessary. Cutting losses early could prevent major setbacks if structure weakens.
OM remains one of the most exciting altcoins. A break above $10 could open doors to new highs. Traders and investors now watch closely, anticipating the next move.
