Analyst Optimistic & Volatility Low; Can OM Crypto Grow By 2x?

• 1 Mantra (OM) crypto has seen a significant market value and trading volume surge, with a partnership in Dubai contributing to its growth.
• 2 The crypto has displayed stability in price despite witnessing substantial growth, with the potential for further increases in its price levels.

Mantra (OM) works as the native token for the Mantra DAO platform. It has been developed over the ETH chain and is also known as an ERC-20-based token. Mantra DAO focuses on governance, lending, and staking. Its platform has been known for its community-governed approach, where its users can engage in DeFi-based operations.

On June 5th, a tweet post from MANTRA’s official handle stated that Zand Bank and Mantra have signed a Memorandum of understanding for real-world asset (RWA) compliance in the united arab emirates (UAE). They also stated that they would focus on defining clear frameworks for RWA tokenization in compliance with Dubai’s Virtual Assets Regulatory Authority (VARA).

Furthermore, after securing a partnership in Dubai, OM happens to be soaring this week. The token’s price has soared nearly 40% this week.

Additionally, Mantra (OM) crypto optimized by 17.34% in market value and surged massively by 232.25% in trading volume in the last 24 hours, per CoinMarketCap. Its market value is $861.015 Million, and its trading volume is $160.912 Million. There are 793.991 Million OM coins in circulation, and the volume-to-market cap ratio at press time stands at 18.65%, indicating good liquidity. That makes it easier for OM investors and traders to buy and sell on an exchange as close to its value.

What Do Mantra (OM) Price and Volatility Illustrate?

This chart illustrates the contrast between the volatility and the price movement in the OM crypto. The evaluation shows that OM crypto has witnessed tremendous growth in recent sessions after collaborating with Zand Bank. However, the volatility has not advanced that much, illustrating stability in the OM price.

Volatility (1W) | By Santiment.com

Moreover, the Mantra (OM) crypto seems comfortable at above price levels, which displays that the sellers are sitting in the rear, and the bulls may assist the OM price to rise further.

An Analyst Expects 2x Gains in the Mantra (OM) Crypto Price; Can It Hit the $2 Mark?

At the start of the year, the OM price had started with consolidation and slowly gained pace after January’s end. The bulls’ interest increased, and the price flew to $1 Mark by April 10th. After that, the price consolidated until it broke out of the range on June 9th, taking support from the key support area at $0.65.

At press time, the OM has traded at 1.086 with a 5.06% intraday gain and massive volume gain. Moreover, it traded above dynamic support of the 50-day and 200-day EMAs.

Staking & Token liquidity | By Defillama.com

As per DefiLlama, the Mantra DAO (OM) crypto has attracted investors, which has increased market participation in the asset. Thus, it increased its staking and token liquidity.

A few more tools, such as MACD and the RSI, illustrate OM crypto’s growth. However, the RSI has flashed at 80.11, an extreme overbought territory. The bullish strength could be capped, so investors and readers should stay cautious.

An analyst, Cameron Fous, tweeted with optimism on X that, like ONDA crypto, OM crypto could show a massive pump up to the $2 Mark.

Therefore, if the OM crypto continues to surge, the new targets would be $1.50 and $2.0.

Conversely, if it slides back into the range, then sideways momentum could increase. Suppose the OM price falls below $0.65, bearishness could increase, and the subsequent support would be the $0.50 mark.

Summary

Mantra (OM) crypto has seen a significant market value and trading volume surge, with a partnership in Dubai contributing to its growth. Meanwhile, the crypto has displayed stability in price despite witnessing substantial growth, with potential for further increases in price levels.

Moreover, the price of OM crypto has shown consolidation and gradual increase, with predictions for potential surges to $1.50 and $2.00 targets. However, caution is advised because the RSI flashing at 80.11 indicates an extreme overbought condition.

Potential support and resistance levels are identified at $0.65 and $0.50, respectively, for assessing the future trajectory of the OM crypto.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.