The cryptocurrency market has been under pressure as major altcoins continue to face sharp downtrends following the November rallies. However, Mantra (OM) stands out, achieving a 53% gain over the last 90 days.
90% of Holders in Profit
According to CryptoRank, Mantra (OM) ranks second among the top 10 tokens with the highest percentage of holders in profit, with 90% of its investors seeing positive returns due to OM's staggering 11,700% growth since January 2024.
Are More Gains Ahead?
Looking at OM's daily chart, the recent market-wide drop pushed OM’s price to test the 50-day Moving Average (50MA) support. However, OM has shown resilience, bouncing back above these levels to trade at $6.38. Historically, similar 50MA tests have resulted in strong rebounds, suggesting potential for further gains if this support holds.
Final Thoughts
Mantra (OM) continues to outperform most altcoins, with strong technical support. As long as the 50MA support holds, OM could see further upside, making it a token to watch in the coming weeks.
Mantra (OM) stands out among tokens, maintaining a positive outlook if the 50MA support is held. However, investors are advised to exercise caution and conduct their own research before making investment decisions.
