Rising against the bearish tides in the crypto market, Mantra (OM) crypto is on a high momentum bullish move. Creating a new all-time high, the bulls target a potential rally to $15.
By Vishal Dixit
Edited by Julia Sakovich
Updated
3 mins read
As Bitcoin BTC $83 691 24h volatility: 2.4% Market cap: $1.66 T Vol. 24h: $29.47 B continues to struggle to reclaim the $100,000 mark, Mantra (OM) Network, has seen a significant recovery. With a breakout rally creating a new all-time high close to the $8 mark, the bull run in the OM token OM $6.21 24h volatility: 2.8% Market cap: $6.12 B Vol. 24h: $67.51 M is constantly gaining momentum.
Mantra is one of the top-performing altcoins in this volatile market. Thus, as the broader market anticipates a new altcoin season coming in a few months, it is likely to shoot to the moon with bullish tailwinds. Will this recovery reach the $15 mark? Let’s have a closer look at the current market situation.
In the daily chart, the OM token price reflects a bullish breakout of a flag pattern. Within the flag pattern, the Mantra price trend created a symmetrical triangle pattern after a massive surge of more than 200% in November.
Mantra (OM) price chart
With a 15% surge on January 25, Mantra broke the triangle pattern. With this bullish surge, the higher-high formation in Mantra continued, creating a new all-time high at $7.90.
Currently, Mantra trades at a market price of $7.592, after a recovery of 5% yesterday. The bullish rally in the OM token has surpassed the 50% trend-based Fibonacci level and is now headed to challenge the 78.60% level.
The exponential resistance is priced at $8.24 and will likely signal a buying opportunity with a potential breakout. Based on the Fibonacci levels, the bullish breakout will likely challenge the 1.272 Fibonacci level at $14.32.
Thus, the breakout rally will likely confirm the price action analysis and set an upside potential of more than 80%. Supporting the upside chances, the MACD indicator maintains a positive alignment.
Meanwhile, the Simple Moving Averages also maintains a bullish alignment. Hence, the technical indicators are supporting the bull run chances in Mantra.
Over the past year, the whale support in Mantra has seen a significant surge. Based on the balance by holding indicator by IntoTheBlock, whales have accumulated, and whale holdings have significantly increased in the past year.
On February 19, 2025, the balance by holding more than $10,000 in Mantra stood at $202 million. Since then, the holdings have increased to $6.72 billion.
This marks an astronomical rise of over 3,200% over the past year. Thus, the growing support and the rising demand for Mantra is likely to fuel the bull run ahead.
Highlighting a short-term caution, Ali Martinez, a crypto analyst, signals a potential cooldown in Mantra. As per the TD Sequential Indicator over the 3-day chart, the 530% bull run in Mantra since October 2023, is bound to take a short-term pullback.
#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! pic.twitter.com/WXjF7Xd91G
— Ali (@ali_charts) February 19, 2025
However, the growing demand and the possibility of a new altcoin season would likely continue the bullish rally for a new all-time high.
Mantra (OM) price action reveals a strong bullish trend amid growing whale accumulation. Despite the minor pullback chances, the strong fundamentals and upcoming altcoin season could fuel the next bull run.
Thus, if the bullish momentum sustains, Mantra could potentially hit $14.32 and near the $15 mark.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
