Mantra (OM) token has shown considerable volatility lately, drawing traders' attention. This article examines key support and resistance levels, as well as current trends.
History of OM Price Growth
OM started its ascent from $0.20 in March, with buyers swiftly gaining control and pushing the price through key resistance levels. By April, it reached $1.00, entering a consolidation phase between $0.60 and $1.00 for a few months. The token then rose to $1.60 in mid-year but experienced a correction below $1.20. By October, OM broke its $1.80 resistance, rallying strongly to $4.50 in November and stabilizing between $4.10 and $4.50.
Support and Resistance Zones
The price chart highlights several key support and resistance levels. The long-term support zone lies between $0.20 and $0.35, marking the beginning of the uptrend. The $1.00 to $1.20 support became significant following OM's recent pullback. Currently, OM maintains support at $4.00, and if it stays above this level, traders expect a challenge at the $4.50 to $5.00 resistance region.
Price Patterns and Trends
The chart analysis showcases a rising trendline connecting lows from March, June, and October, indicating a consistent bullish trend. A parabolic price spike in November reflected strong buying interest. Currently, OM is trading sideways between $4.00 and $4.50, which might suggest accumulation by large players or a market pause. Traders continue to monitor trading volumes, which could indicate renewed upward movement.
Mantra (OM) token price exhibits both significant volatility and strong trends. The support level at $4.00 and resistance at $4.50 remain key areas to watch.
