Mantra cryptocurrency has shown significant growth recently, fueled by anticipation of a major project announcement.
Price Surge Amid Expectations
Mantra's price rose 24% in the last 24 hours to $4.20, with trading volume increasing by 33% to $728 million. The price began rising following a project announcement hinting at 'something big,' sparking community interest and driving the surge.
Mantra Technical Analysis
Mantra reached an all-time high of $4.47 before dropping to its current level of $4.20. Technical indicators show that the token has stabilized after being rejected at the $4.50 resistance level. This is supported by narrowing Bollinger bands and the RSI fluctuating in the neutral zone.
Future of Mantra's Price
The future price of Mantra will depend on the project's announcement and broader market sentiment. There could be further growth or profit-taking by traders leading to a price drop.
Mantra may maintain stability in the short term, but news and market sentiment will play a significant role in its future price movements.
