Mantra (OM) Price Hits New Highs: Bullish Indicators Signal Further Gains

The post Mantra (OM) Price Hits New Highs: Bullish Indicators Signal Further Gains appeared first on Coinpedia Fintech News

Mantra (OM) has recently surged to new all-time highs, gaining nearly 20% in the past week, driven by a strong bullish trend. The technical indicators point to continued upward momentum, signaling the possibility of further price gains in the short term.

Mantro (OM) though an underdog has performed well in the past few weeks making it a hot pick in the upcoming altcoin season with Trump’s win the prospects for lesser-known coins are bright.

Let’s delve into the key indicators pumping OM. 

Strong Technical Indicators Confirm Bullish Trend

The Average Directional Index (ADX) has risen sharply from 16 to 26.48, reflecting a powerful trend shift from a weak market to a clear and sustained uptrend. An ADX value above 25 typically signals the strength of a trend, indicating that OM is in a robust bullish phase.

The Ichimoku Cloud chart also confirms a bullish trend, with OM’s price breaking above the cloud, a strong indicator of upward movement. The conversion line (Tenkan-sen) is positioned above the base line (Kijun-sen), suggesting that short-term momentum is stronger than the longer-term trend. Plus, the lagging span (Chikou Span) remains above the price, solidifying the bullish sentiment.

Moreover, OM’s price is currently trading above key Exponential Moving Averages (EMAs), which suggests that the upward momentum is likely to continue. The alignment of shorter-term EMAs above the longer-term ones further strengthens the bullish outlook, as these EMAs act as dynamic support levels during an uptrend.

Key Levels to Watch for Potential Reversal

Although the bullish trend remains strong, OM may face tests at key support zones if the upward momentum slows down. The first major support level is seen around $1.35, with $1.25 serving as a critical level that could determine whether the uptrend will continue or if a deeper correction is likely.

Outlook for Mantra (OM)

With the current technical indicators pointing to a sustained uptrend, Mantra (OM) could continue to break through new highs if the positive momentum persists. The combination of strong ADX readings, a bullish Ichimoku Cloud, and favorable EMA alignment suggests further growth is possible. However, key support levels around $1.35 and $1.25 will be crucial in maintaining this bullish outlook. If these levels hold, OM has the potential to keep rising, making it a coin to watch closely in the coming days.

Is it a good time to alter your portfolio? Tell us your choice.