OM records a major spike in transfer volume, while the token’s price hovers around $7.37.
By Anisha Pandey
Edited by Marco T. Lanz
Updated
2 mins read
Mantra (OM) has emerged as one of the best-performing altcoins of this market cycle, defying the broader crypto downturn with a 60% monthly gain. On-chain data reveals that OM’s transfer volume has soared to a new yearly high of $264.27 million, as noted by crypto analyst Ali Martinez.
This spike in activity indicates strong market interest in the token, which currently stands just outside the top 20 cryptocurrencies by market capitalization. According to CoinMarketCap data, it commands an impressive market capitalization of $7.11 billion.
OM price is trading at $7.37, down 2% in the past 24 hours. It is moving within an ascending channel on the daily chart and approaching its trendline support. This level has acted as a strong floor for the token in previous dips, and its ability to hold here could determine the next move.
On the daily OM price chart, the RSI is currently hovering around the mid-50s, signaling a neutral to mildly bullish stance. If it moves above 70, OM could enter overbought territory, potentially leading to a pullback. However, a drop below 40 could indicate weakening momentum and further downside risk.
The OM price is consolidating near the midline of the Bollinger Bands, suggesting balance between buyers and sellers. If the token breaks above the upper band, it could trigger strong upside momentum, possibly toward $10, as per the analysts on X.
The MACD line is currently near the signal line, hinting at a possible crossover. A bullish crossover would reinforce an upward trend.
According to analyst platform Crypto Miners, OM is holding key support at $7.2, with resistance at $8.1. A decisive breakout above $8.1 could accelerate the price toward the psychological barrier of $10. However, failure to hold $7.2 as support may expose OM to a steeper correction, potentially testing lower levels.
$OM Breaks Into the Top 20 as Trading Volume Soars!
Momentum is picking up with a 55% surge in trading volume this week, looking solid.
Holding $7.2 support, with a resistance at $8.1. A breakout here, and we could be flying to $10 sooner than y’all expect!#DYOR #NFA pic.twitter.com/cvy1dVQ7MK
— Crypto Miners (@CryptoMiners_Co) February 27, 2025
The RWA (Real World Asset) token sector has recently recorded a major rise in demand, with a total market cap now at $34.6 billion. OM, the second-largest RWA token, has been riding this wave, recording a five times increase in its value since early November. However, a major event looms—a 50 million OM token airdrop set for March. While this could boost adoption, it may also result in short-term price volatility.
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.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
