bullish

<p>Mantra (OM) has seen interest and growth lately, with analysts suggesting a potential price breakout. Crypto analyst Professor Astrones noted on X that the OM token is approaching a big move, driven by both technical factors and increased investments from partners.</p>
<p>The tweet stated, “<em>$OM Big move soon. Expecting a breakout next week. Some partners investing huge in @MANTRA_Chain,” </em>highlighting the growing interest and anticipation in the market for OM’s next big surge.</p>
<p>Besides, per CoinGecko data at press time, <a href="https://www.coingecko.com/en/coins/mantra" target="_blank" rel="noopener noreferrer nofollow">OM has hit $1.00</a>. The token’s daily trading volume is at $29,111,498. This indicates a 13.44% and a 7.66% surge in the past day and week.</p>
<h2 class="wp-block-heading" id="strong-om-s-analysis-points-to-a-breakout-strong"><strong>OM’s Analysis Points to a Breakout</strong></h2>
<p>The technical analysis provided by ProfessorAstrones offers a detailed insight into OM’s recent price action. The chart reveals that OM has been steadily climbing since late 2023, supported by an ascending trendline.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a><br><br>Big move soon <br><br>Expecting a breakout next week <br>Some partners investing huge in <a href="https://twitter.com/MANTRA_Chain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@MANTRA_Chain</a> <a href="https://t.co/77isMqMjpQ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/77isMqMjpQ</a></p>— ProfessorAstrones (@Astrones2) <a href="https://twitter.com/Astrones2/status/1829608705702146237?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 30, 2024</a>
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<p>This trendline has consistently acted as a base, preventing the price from falling further. Besides, it is crucial as it highlights the token’s resilience and steady upward momentum over the past several months.</p>
<p>Above the current price level, a horizontal resistance zone lies between $1.00 and $1.20. This zone has historically been a hurdle, with multiple rejections occurring within this range.&nbsp;</p>
<p>However, OM is now consolidating just above the ascending trendline, indicating a buildup of momentum that often precedes a breakout. If OM can breach the $1.20 resistance level, it could trigger a substantial upward movement, potentially leading to new highs.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/how-much-will-cardano-ada-token-be-worth-when-bitcoin-hits-100k/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>How Much Will Cardano (ADA) Token Be Worth When Bitcoin Hits $100K?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-catalysts-behind-the-expected-surge-strong"><strong>Catalysts Behind the Expected Surge</strong></h2>
<p>Beyond the technical factors, fundamental developments are also playing a crucial role in the anticipated breakout. ProfessorAstrones pointed to investments from partners in the Mantra Chain ecosystem, which supports the OM token.&nbsp;</p>
<p>These investments could act as a catalyst, propelling OM beyond the critical resistance level. The growing interest and influx of capital are seen as strong indicators of the market’s confidence in OM’s long-term potential.</p>
<p>Adding to the bullish sentiment, another key development was highlighted by Tahira Siddiqi, <a href="https://x.com/SiddiqiTahira/status/1828734838045896858" target="_blank" rel="noopener noreferrer nofollow">who tweeted</a>,&nbsp;</p>
<p><em>“Big news! BlackRock, the world’s largest asset manager, is backing @MANTRA_Chain’s $OM. This major investment validates MANTRA’s innovative approach to integrating real-world assets into blockchain technology.”&nbsp;</em></p>
<p>The endorsement from BlackRock provides a boost in credibility and highlights the growing institutional interest in Mantra’s ecosystem.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-mantra-om-price-up-analyst-eyes-big-move-soon/" rel="noopener noreferrer nofollow">Why Is Mantra (OM) Price Up? Analyst Eyes ‘Big Move Soon’</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Mantra (OM) Price Up? Analyst Eyes ‘Big Move Soon’

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