{"id":12059,"date":"2024-10-07T14:00:51","date_gmt":"2024-10-07T14:00:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=12059"},"modified":"2024-10-07T14:00:51","modified_gmt":"2024-10-07T14:00:51","slug":"mantra-om-price-hits-a-new-ath-further-rally-in-the-cards","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=12059","title":{"rendered":"Mantra (OM) Price Hits a New ATH: Further Rally in the Cards?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Mantra (OM) surged over 60% in the past 30 days, hitting an all-time high of $1.50 with analysts predicting a further jump.
\nOn-chain metrics suggest continued gains, but the RSI indicates it may be overbought, signaling a possible correction.<\/p>\n

<\/a><\/p>\n

New Peak for OM<\/h2>\n

Most of the leading cryptocurrencies have experienced severe ups and downs over the past several weeks. Bitcoin (BTC), for instance, fell to $60,000 at the beginning of October and later rebounded to its current $63,000 (per CoinGecko\u2019s data).<\/span><\/p>\n

There are a few digital assets, though, whose prices have gone predominantly up <\/span>as of late<\/span>. One evident example is Mantra (OM), which has jumped by over 60% monthly. Earlier today (October 7), it hit a new all-time high of almost $1.50, whereas its market capitalization surpassed $1.2 billion.
\n<\/span><\/p>\n

<\/a>OM Price, Source: CoinGecko<\/p>\n

The token\u2019s achievement caught the eye of multiple industry participants. The <\/span>popular<\/span> X user IBCIG <\/span>claimed<\/span><\/a> OM\u2019s momentum is \u201ctruly unstoppable,\u201d expecting a further rally to $2. <\/span><\/p>\n

\u201cWith its purpose-driven tokenomics and a robust Layer 1 foundation, it is by far among the best RWA projects in my portfolio,\u201d they added.<\/span><\/p>\n

Daan Crypto Trades and Token Sherpa chipped in, too. The former <\/span>said<\/span><\/a> OM performed \u201cincredibly strong during all the chaos in the past few weeks\/months,\u201d while the latter <\/span>thinks<\/span><\/a> the new peak is just the beginning of a <\/span>major<\/span> bull run.\u00a0<\/span><\/p>\n

On-Chain Metrics Flash the Buy Signal<\/span><\/h2>\n

Over a dozen important metrics suggest that OM\u2019s bull run is nowhere near its end. One of those is the Momentum Indicator (MOM), which measures the asset\u2019s rate of change and compares the current valuation with the price from previous periods. As of the moment, it is <\/span>set<\/span><\/a> at around 0.2, presenting a potential buying opportunity.<\/span><\/p>\n

The Simple Moving Average (on a 10-day scale), the Exponential Moving Average (<\/span>on a monthly basis<\/span>), and the Hull Moving Average also indicate possible gains <\/span>in the near future<\/span>.\u00a0<\/span><\/p>\n

One of the very few metrics hinting at a potential correction is the Relative Strength Index (RSI). The momentum oscillator has surpassed a ratio of 75, entering overbought territory. <\/span>This<\/span> suggests that OM might <\/span>be overvalued<\/span>, and a pullback could occur.\u00a0<\/span><\/p>\n

The post Mantra (OM) Price Hits a New ATH: Further Rally in the Cards?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Mantra (OM) surged over 60% in the past 30 days, hitting an all-time high of $1.50 with analysts predicting a further jump. On-chain metrics suggest continued gains, but the RSI indicates it may be overbought, signaling a possible correction. New Peak for OM Most of the leading cryptocurrencies have experienced severe ups and downs […]<\/p>\n","protected":false},"author":0,"featured_media":12060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12059"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12059"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12060"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}