Mantra (OM), a relatively less known subcoin, captured a strong upward trend in the last month and gained 98 %. In this process, a new all -time level (ATH) reached the highest level (AC) with $ 7.9.
OM’s latest performance surprised the Altcoin market
Mantra increased its price up to $ 7.96 with an increase of 14.49 %in the last 24 hours. However, after this level, he experienced a slight retreat and was traded at $ 7.58 at the time of writing.
In addition, the transaction volume increased by 35 %to $ 1.4 billion. When we look at the weekly and monthly performance, the OM increased by 25.57 %on a weekly basis and 98 %on a monthly basis.
Why is mantra rising?
According to the analysis, one of the biggest reasons for the rise of Mantra is increasing demand. The analyzes also reveal the following developments:
- According to Coings data, OM’s futures open positions have increased a huge increase in the last 24 hours, reaching $ 640.6 million.
- The rise of open positions with the increase in price shows that investors have entered the market more capital and a strong belief in the rise.
This proves that the rise -oriented transactions have increased and the market has gained a strong momentum.
Will the om price continue to rise in the current Altcoin market conditions?
OM’s price graphics show buyers with a strong rise tendency and market dominance. So, what do technical indicators say?
- RSI (Relative Power Index) has increased to 76 in the last 24 hours.
- This high RSI value shows the superiority of the buyers in the market and strong demand.
- When demand increases, the price movement usually continues in a positive way.
In addition, the purchase and sale balance is in favor of buyers:
- According to Mobcart data, there was a cross-transition in the purchase-sale orders that pointed to the bull market.
- This shows that there is more purchase orders in the market and that the rise tendency can continue.
The number of active addresses is increasing:
- According to centimeter data, the number of active users reached 8,900 in the last week.
- The increase in active addresses shows that the market is expanding and the interest of investor has grown.
- Such an increase is often an important factor for the price to continue to rise steadily.
What should be expected in the short term in the om price?
Mantra is currently in a strong tendency to rise and the market has been dominated by buyers. If positive market sensitivity continues, the OM may exceed $ 7.9 again and break the resistance level of $ 8 and reach a new AC level. However, if profit sales in the market occurs, there is a risk of withdrawing the price up to 6.2 dollars.
