The real-world asset tokenization platform Mantra reached an all-time high of $2.71 on November 16, with technical indicators suggesting potential for further gains in the short term.
Catalysts for the Rally
The recent price surge of OM is due to key achievements by Mantra in the RWA sector. In October, the project launched its mainnet which delivers low transaction costs, enhanced security, and regulatory compliance, increasing investor confidence. The onboarding of Google Cloud as the primary validator also supports this confidence.
Community and Technical Indicators
Increased excitement within the Mantra community, spurred by an upcoming airdrop, has heightened activity around OM. The number of daily active OM addresses has surged by over 573% in the past few days, indicating heightened trading activity.
Outlook and Technical Analysis
From a technical perspective, OM's bullish momentum remains intact. On the OM/USDT price chart, OM was trending above the upper Bollinger Band, indicating potential for further price gains. The ADX reading of 35.96 confirms the strength of the uptrend. If OM surpasses the $2.50 resistance level, this could lead to new price discoveries.
The ongoing rally of OM, backed by Mantra's achievements in asset tokenization, community support, and technical indicators, shows optimistic prospects for further growth.
