Flow (FLOW) and MANTRA (OM) are making waves in the cryptocurrency market, with analysts pointing to significant technical patterns that could signal upcoming price movements. According to World Of Charts, an analyst on X, both assets are showing signs of potential breakouts, each with distinct patterns that could result in substantial price increases.
Flow Eyes a Breakout from Descending Channel
Flow (FLOW) has been trading within a descending channel for several months, marked by consistent lower highs and lower lows. This pattern has defined a bearish trend that has kept the asset within tight boundaries. The channel is outlined by two parallel trendlines, with the lower trendline acting as dynamic support, where the price has repeatedly bounced. The upper trendline, meanwhile, has served as resistance, preventing any upward momentum.
However, the current price action suggests that Flow may be on the verge of breaking above the upper trendline. If this occurs, it could signal the end of the prolonged bearish trend. Notably, a successful breakout could trigger a rally toward the $1.00 level, a potential 145% increase from its current price of $0.5922. This projection is based on the height of the descending channel, which is commonly used to estimate potential targets following a breakout.
MANTRA (OM) Bullish Pennant Breakout
In another report, the analyst highlights a bullish pennant breakout for MANTRA (OM). The chart for OM displays a descending wedge pattern, which is typically viewed as a bullish reversal signal. Within the wedge, the price action has been characterized by lower highs and stable lows, indicating a period of consolidation.
The recent breakout from the wedge has occurred to the upside, suggesting that OM could be gearing up for a significant upward movement. The analyst’s chart includes a price projection marked by a blue box, forecasting a potential 59.03% increase from the breakout point. Based on the height of the wedge at its widest point, this could propel the price beyond $1.5.
MANTRA Chain Partners with MAG for $500M Real Estate TokenizationMarket Performance
As of press time, Flow is priced at $0.5922, reflecting an 11.17% increase in the past 24 hours and a 1.58% gain over the last week. Similarly, MANTRA (OM) is trading at $0.9959, with a 12.13% increase in 24 hours and a 7.42% rise over the past seven days. These price movements align with the technical patterns identified by the analyst, setting the stage for potential breakouts in both assets.
