Why Is Mantra (OM) Price Gaining While Crypto Markets Fall? Analyst Explains

As the global crypto market faces downturns, Mantra's (OM) price refuses to obey this trend. Top analyst World Of Charts updated his followers on X

Cryptocurrency markets are experiencing a downturn, largely attributed to escalating geopolitical tensions in the Middle East. However, amidst this market decline, one token is defying the trend and surging in value: Mantra (OM).

According to World Of Charts, a renowned crypto analyst, Mantra’s price has soared despite the broader market dips. In fact, OM is reportedly showing a 30% profit, even as the crypto market experiences turbulence.

As per the latest updates, Mantra’s price is currently trading at $1.30, showing a 6.30% increase over the past 24 hours. Interestingly, the token’s trading volume has also surged by a massive 202.02%.

According to World Of Charts, OM’s price is “going towards targets while markets are crashing across the board.” This performance is attracting traders seeking opportunities in a volatile market environment.

A closer examination of OM’s chart reveals a descending channel that the price broke out of in mid-September. This breakout is considered a bullish signal, indicating a potential reversal from the previous bearish trend.

However, breaking above the descending channel suggests a shift in market sentiment. Traders often view such breakouts as opportunities to enter long positions, and the sustained movement above the channel reinforces the bullish outlook.

Since the breakout, OM’s price has steadily increased, remaining above the breakout level to indicate that buyers are still controlling the market. This aligns with WorldOfCharts’ observation of a 30% profit run.

As the price continues to rise and consolidates after the breakout, it signals the market is preparing for further gains. Observers are keeping a close watch on the volume and price action for additional clues.

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The crypto market is indeed experiencing a downturn, largely due to the geopolitical tensions in the Middle East. However, despite this broad market sentiment, Mantra’s (OM) price is surging in the opposite direction.

This contrasting performance is highlighting the strength of Mantra and attracting investors who are looking for opportunities even in a declining market. The divergence from the market trend is certainly noteworthy for both analysts and traders.

World of Charts is implying that OM’s price has the potential to continue reaching higher targets. Given the token’s ability to sustain gains while the market declines, it may continue to draw buyers.

Traders are now watching for potential resistance levels that OM’s price might test soon. Additionally, keeping an eye on key technical indicators will be essential for those looking to capitalize on this momentum.

According to the analysis, the consolidation phase could precede another upward move, as noted by analysts. Stay tuned for further updates.

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