- $OM surged 5000% in a year, positioning itself among the top 25 cryptocurrencies.
- Having a market cap of $5.76B, $OM’s growth shows strong investor confidence.
- With the upcoming Gendrop, $OM could drive more investor interest, boosting market momentum.
Will Mantra ($OM) achieve a place among the 20 leading cryptocurrencies? The community witnessed the token rising through the rankings after it joined the list of the top 25 cryptocurrencies by market capitalization. Industry experts now evaluate the potential for $OM to gain the top 20 status considering its Gendrop event on March 18.
Price Action Analysis
The trading price of Mantra $OM at press time is $5.93, with a daily value increase of 1.51%. The token achieved significant value expansion between early 2022 and now, when its worth rose from approximately $0.033 to its current level. Following this, the token is showing a favorable market sentiment.
The trading volume for Mantra $OM declined 29.14%, reaching $203.98 million within the last 24 hours. However, the market capitalization has shown an enhancement of 1.13% recording a value of $5.76 billion. The present market figures hint toward a consolidation phase that might impact future price activity.
Source: Coinmarketcap
Technical Indicators: RSI and MACD
The Relative Strength Index for Mantra $OM is at 82.36, indicating that the token opposes the market’s natural buying and selling cycle, implying an upcoming price adjustment. The Moving Average Convergence Divergence (MACD) indicates future bullish trends, with its signal line remaining above the MACD line.
Source: TradingView
The divergence between the RSI and MACD readings necessitates cautious approaches from investors. The sustained bullish MACD predictions face the potential challenge of market correction because the RSI reading indicates high volatility. These market indicators provide information to anticipate upcoming short-term market actions.
Mantra $OM Total Liquidation
The token’s market depends on its total liquidation figure to assess its financial performance. It has a robust base of 78.63K and a circulating supply of 971.17 million out of a total of 1.8 billion. The distribution pattern demonstrates an established strategy for controlled product release which tends to stabilize market prices.
Market stability and growth possibilities emerge when the market cap rises substantially while strategic liquidation events occur. Multiple factors that favor investor interests indicate that Mantra $OM will maintain positive valuation trends over the coming period.
Conclusion
Currently facing a turning point, $OM could determine its placement among the top 20 cryptocurrencies with its upcoming event. Multiple technical indicators and market behavior indicators show that the token will potentially continue generating interest and the market should approach the event with a balanced perspective, combining optimism and caution, so as to maximize its potential benefits.
