MANTRA (OM) Price Hovers at $0.27 as Bulls Eye Key Resistance Break

Fast

• To be traded at $ 0.27 (-3.52% in 24 hours) • Mantras MacD-Histogram shows Bullish Momentum Building • No significant news catalysts who stimulate recent price action

What drives the Mantra price today?

The OM -price movement in the past 24 hours seems mainly driven by technical factors instead of fundamental news, because no significant developments have been created in the cryptocurrency space that specifically affects the mantra. The decrease of 3.52% brings with it -price of yesterday’s high from $ 0.29 to the current levels of $ 0.27, which represents a natural withdrawal within the recent trade range.

Market participants probably take a profit after the substantial recovery of mantra of the lowest point in 52 weeks of $ 0.20, while others may position before possible outbreak movements. The current consolidation phase suggests that traders are waiting for clearer direction indicators before they connect to larger positions in the OM/USDT pair.

To technical analysis: mixed signals arise

Mantra Technical analysis reveals a complex image with both bullish and neutral indicators. The most convincing signal comes from Mantra’s MacD, which shows a positive histogram reading of 0.0020, which indicates the construction of bullish momentum below the surface despite the fall in the price drop of today.

Around RSI is currently 54.41 and Mantra square positions neutral territory with room for movement in both directions. This RSI lecture suggests neither overbought nor over -sold circumstances, giving the cryptocurrency flexibility for the next large movement.

The advancing average structure presents a mixed prospect for Mantra. Short-term averages, including the 7-day and 20-day SMAs, are both connected to $ 0.27, which exactly matches the current OM price. However, the 50-day SMA at $ 0.24 offers support in the neighborhood, while the 200-day SMA at $ 2.77 emphasizes the considerable distance to trend levels in the longer term.

Mantra’s Bollinger tires show the price that works in the upper part of the range, whereby the current level represents a %B position of 0.6057. This suggests that Mantra maintains the relative strength within his recent trade omhing, although approaching the upper tire at $ 0.30 could activate resistance.

Mantra price levels: important support and resistance

Critical Mantra -Supporting levels start at $ 0.22 for immediate support, which represents about a fall of 18% compared to the current OM prize levels. If this level fails, Mantra is strong support at $ 0.19, which closely matches the recent 52-week low area.

In addition, resistance appears at $ 0.34 as the direct target, for which a progress of 26% of the current levels is required. Breaking this level would open the path to the strong resistance of Mantra at $ 0.40, which represents a potential profit of 48% of today’s price.

The Pivot Point calculation places Mantra at $ 0.28, just above current trade levels, which suggests that the cryptocurrency retains a light bullish bias in the short term based on Binance Spot market data.

Do you have to buy now? Risk-willing analysis

Conservative traders may want to wait for a clear break above $ 0.34 resistance before they establish long positions in Mantra, because this would confirm the Bullish Momentum Signals of the MACD indicator. Such traders can focus on the resistance level of $ 0.40 while retaining stops under the immediate support of $ 0.22.

Aggressive traders can find the current OM -price attractive, given the Bullish MacD divergence and neutral RSI conditions. These traders can enter positions around $ 0.27 with tight stops below $ 0.24 (the 50-day advancing average) and initial goals at $ 0.30 (the upper limit of the Bollinger band).

Risk management remains crucial in view of the high volatility of Mantra, as evidenced by the average actual range of $ 0.03, which represents around 11% of the current price. Position size must explain this volatility when trading the OM/USDT pair.

Conclusion

Mantra price action during the next 24-48 hours will probably depend on whether bulls can defend the level of $ 0.27 and push back price back to the $ 0.30 resistance zone. The Bullish Macd -momentum offers hope for buyers, while the neutral RSI leaves room for upward movement. Traders must pay attention to volume confirmation on possible outbreak attempts, in particular in view of the substantial trading activity of more than $ 15.5 million in the last 24 hours at Binance Spot -markets.

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