Mantra (OM): Death Cross Coming? Correction Possible
The price of Mantra (OM) has fallen 14% in one month. The Death Cross could signal a further correction. Let us analyse the OM market.
Over the past month, the price of Mantra (OM) has fallen 14%. Despite this, the token remains the second-largest capitalisation in the real assets segment (RWA).
We analyse what is happening in the Mantra (OM) market and what to expect from the cryptocurrency's price trend.
The ADX indicator signals possible changes
The ADX index for Mantra is currently at 22.96, down from 26.5 yesterday, signalling a weakening trend.
The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction. Values below 20 usually indicate a weak or sideways market, while values above 25 signal a strong trend.
ADX for OM. Source: TradingView
A decline in the ADX below 25 indicates a weakening of the previous trend (consolidation phase).
This decline coincides with the first signs of a possible transition to a bearish trend, especially if selling pressure increases. If the ADX continues to fall while bearish momentum increases, it will confirm that Mantra is exiting the consolidation phase and entering a bearish phase.
The Ichimoku cloud indicates a strengthening of the bearish trend
The Ichimoku cloud chart for Mantra shows uncertainty in the market, with the price fluctuating near the edge of the cloud. This indicates a consolidation phase, in which neither buyers nor sellers have a clear advantage.
The Tenkan-sen (blue) and Kijun-sen (red) lines remain flat and close to each other, signalling weak momentum and sideways movement in the short term. This situation often precedes a strong movement, but the direction is not yet clear.
Ichimoku Cloud for OM. Source: TradingView
Although the price has not yet broken the cloud to the downside, further declines could confirm the bearish trend. At the moment, OM is in a vulnerable position. Traders are watching closely to see if the cloud will act as support or resistance.
OM forecast: possible descent below $6
At the time of writing, OM is trading at $6.62. Over the past 24 hours, the token has lost 2.2%, while over the past week the decline has been 3.5%.
The altcoin's moving averages could form a "death cross", a bearish pattern that occurs when short-term moving averages cross long-term moving averages to the downside.
If the current trend continues and selling increases, OM could fall to the $6.15 support level. A break of this level could lead to a drop to $5.85, marking the beginning of a more significant correction.
OM Price Analysis. Source: TradingView
On the other hand, if interest in tokens RWA resumes, Mantra could start an uptrend. In that case, OM could reach resistance at $7.10 and, if breached, rise as high as $7.39.
If growth is as strong as in previous months, OM could also breach the $8 threshold and test the $8.16 level for the first time since late February.
The 'Base is for everyone' token, launched as an experiment on Zora by the Base team (Coinbase), collapsed by 95% after a rapid surge and accusations of insider trading.
Over the past month, the price of Mantra (OM) has fallen 14%. Despite this, the token remains the second-largest capitalisation in the real assets segment (RWA).
We analyse what is happening in the Mantra (OM) market and what to expect from the cryptocurrency's price trend.
The ADX indicator signals possible changes
The ADX index for Mantra is currently at 22.96, down from 26.5 yesterday, signalling a weakening trend.
The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction. Values below 20 usually indicate a weak or sideways market, while values above 25 signal a strong trend.
A decline in the ADX below 25 indicates a weakening of the previous trend (consolidation phase).
This decline coincides with the first signs of a possible transition to a bearish trend, especially if selling pressure increases. If the ADX continues to fall while bearish momentum increases, it will confirm that Mantra is exiting the consolidation phase and entering a bearish phase.
The Ichimoku cloud indicates a strengthening of the bearish trend
The Ichimoku cloud chart for Mantra shows uncertainty in the market, with the price fluctuating near the edge of the cloud. This indicates a consolidation phase, in which neither buyers nor sellers have a clear advantage.
The Tenkan-sen (blue) and Kijun-sen (red) lines remain flat and close to each other, signalling weak momentum and sideways movement in the short term. This situation often precedes a strong movement, but the direction is not yet clear.
Although the price has not yet broken the cloud to the downside, further declines could confirm the bearish trend. At the moment, OM is in a vulnerable position. Traders are watching closely to see if the cloud will act as support or resistance.
OM forecast: possible descent below $6
At the time of writing, OM is trading at $6.62. Over the past 24 hours, the token has lost 2.2%, while over the past week the decline has been 3.5%.
The altcoin's moving averages could form a "death cross", a bearish pattern that occurs when short-term moving averages cross long-term moving averages to the downside.
If the current trend continues and selling increases, OM could fall to the $6.15 support level. A break of this level could lead to a drop to $5.85, marking the beginning of a more significant correction.
On the other hand, if interest in tokens RWA resumes, Mantra could start an uptrend. In that case, OM could reach resistance at $7.10 and, if breached, rise as high as $7.39.
If growth is as strong as in previous months, OM could also breach the $8 threshold and test the $8.16 level for the first time since late February.
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