MANTRA (OM) Makes New All-Time High

MANTRA (OM) has reached a new all-time high, soaring 8,000% since October 2023. This consistent rally sets it apart from struggling altcoins in 2024

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MANTRA (OM) has made a new all-time high, continuing its insane rally from October 2023.

Since October last year, OM has increased over 8,000% in value. Therefore, if someone bought $1,000 worth of OM last year, they would now have $80,000. The rally has not only been very strong, but it has also been very consistent; each time MANTRA experienced a correction, it rose back higher than before. This is in stark contrast with most of the altcoins, which have not been performing very well since March 2024.

What is Mantra? MANTRA (OM) stands out as a Decentralized Finance platform and Layer 1 blockchain that prioritizes security and regulatory compliance. It is designed to facilitate the tokenization and trading of real-world assets, aligning with legal standards.

Chart by TradingView

Technical Indicators

The Moving Average Convergence Divergence (MACD), together with the 200 Exponential Moving Average (EMA) on the daily chart, have been working pretty well in predicting OM’s price. We can use the 200 EMA as a filter to make sure that we are trading with the trend. So we will only take a long position when the price is above the 200 EMA. We can then use the MACD to enter and close positions.

Since the rally of MANTRA has been very strong and also consistent, we wouldn’t recommend using oscillators like the RSI, Stochastics, or Williams %R, because they would show the price of MANTRA to be overbought (thus essentially sending sell signals) way too early due to the nature of the uptrend. Therefore, you would miss out on a lot of potential profits.

Bottom Line: MANTRA (OM) has shown remarkable growth, reaching new all-time highs with a consistent rally since October 2023. Its 8,000% increase in value over the past year sets it apart from most altcoins, which have struggled in 2024. Utilizing indicators like the MACD and 200 EMA has proven effective in trading OM’s strong upward trend. As OM continues to break records, it offers opportunities for those following its trend with the right approach.

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