Mantra (OM) Price Hits All-Time High, Faces Potential Pullback
Mantra (OM) price recently hit an all-time high on November 18 and surged 155.29% over the past 7 days. This explosive rally highlighted strong bullish momentum, pushing OM to its highest levels yet.
However, recent indicators include relative strength index and the Ichimoku Cloud, indicating that the uptrend may be weakening.
OM RSI shows neutral zone
OM’s relative strength index (RSI) currently stands at 52.7, below the overbought levels reached between November 16 and 18, when the index remained above 70, spell Prices hit all-time highs as prices swirl around Real World Assets (RWA) Keep growing.
The decline signals a slowdown in buying momentum, suggesting that previously strong upward pressure has eased. This shift reflects a more balanced market, with buyers and sellers now exerting similar influence on the market. OM price.
RSI measures the strength of price action, with levels above 70 indicating strong bullish momentum and potential overextension, while levels below 30 indicate strong bearish pressure.
OM’s RSI is 52.7, which is in neutral territory, indicating that the market is neither overheated nor oversold.
Ichimoku Cloud Shows Mantra Uptrend Is Fading
Ichimoku Cloud Atlas about Indicates signs of price weakness. The price has fallen below the Tenkan-sen (blue line), indicating a loss of short-term momentum, and is now approaching the lower limit of the Green Cloud (Kumo).
A break below the clouds would mark a shift to a bearish trend, as clouds often act as key support areas.
The green clouds ahead are still relatively thick, suggesting that while the overall trend may still have some support, that support is being tested.
if OM price A close below the cloud could indicate that the recent uptrend may be reversing into a sustained downtrend.
OM Price Prediction: Can Mantra Fall Below $3 in November?
If OM’s downtrend continues to strengthen, it may test its recent support area at $2.98. If this level fails to hold, the price could fall further, possibly to $1.81.
Such a scenario would signal a more serious bearish reversal and a significant loss of momentum.
On the other hand, if the uptrend resumes, OM price New highs may be targeted by testing the $4.53 resistance zone.
A breakout of this level could see OM surpass its previous peak and reach new all-time highs, making Mantra one of the most relevant coins. RWA ecosystem.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
