Mantra (OM) price predictions to watch after recent ATH

TL;DR

Mantra (OM) hit a new all-time high of over $1.30, with a market capitalization of over $1 billion. Analysts are bullish and anticipate targets of up to $5. Reaching a new peak

The second largest RWA cryptocurrency in terms of total market cap, Mantra (OM), continues to impress industry participants with its price increase. It hit a new all-time high of over $1.30 today (July 16) after experiencing a 15% daily gain. The increase on a monthly basis is almost 70%, while annually it is a staggering 5,000%.

OM Price, Source: CoinGecko

Meanwhile, OM’s market capitalization surpassed the $1 billion mark for the first time, making it the 80th largest cryptocurrency.

Numerous analysts believe that the token has not yet flown to new dimensions. User X Smith noted the breakout of a typical “cup and handle” pattern on the OM price chart, predicting a short-term target of $1.38 and a long-term target of over 5 dollars

“One of the best RWA crypto projects right now,” argued the trader.

The pattern mentioned above is characterized by a distinct U-shaped “cup” followed by a small period of consolidation that resembles a “butt”. A breakout occurs when the rating rises above the resistance level formed by the handle.

Crypto Tony also chimed in, stating that they jumped on the bandwagon as an investor when the OM price hit $1.05 last week.

One analyst who correctly predicted the asset’s rally is AltCryptoTalk. Earlier this month, the crypto enthusiast claimed that OM could reach the $1.2 mark once it breaks through the $1.05 resistance level.

Indicators flashing buy signal

In addition to bullish analysts, certain OM metrics also suggest that the asset’s valuation is poised for further gains. An example is the MACD (Moving Average Convergence Divergence) which identifies changes in price strength, momentum, direction and duration.

The analysis tool is calculated using two moving averages: short-term (usually 12 periods) and long-term (usually 26 periods). If the MACD line crosses above the signal line, it could provide a buying opportunity. Data from TradingView shows that this is the case at the moment.

The charting platform calculates that there are currently 13 additional moving averages flashing the buy signal, while only one (Ichimoku Base Line) is in the neutral zone.

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