Mantra’s Price Rocket: Is It a Bird, a Plane, or Just a Really Expensive Coin?

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Ah, the Mantra price, that elusive creature, has decided to show its face again, leaping into the double digits like a cat on a hot tin roof. Is OM about to break out, or is it just practicing its acrobatics? 🤔

In the last 24 hours, Mantra (OM) has decided that a 10% increase is just the ticket, with trading volume surging more than 500%. All thanks to a listing on South Korea’s largest exchange, Upbit, which is apparently the place to be if you want your coin to feel important. 🎉

Now, let’s take a stroll down memory lane. OM once soared to a dizzying height of $6.26 on April 13, only to crash down to a low of $0.42, like a balloon losing air at a particularly dull party. For a while, it was stuck in a tight little range, like a cat in a box, oscillating between $0.37 and $0.42, with lows around $0.36–$0.38 and highs that just couldn’t seem to break free, capped at $0.42–$0.43. 🐱

But lo and behold! The latest breakout has seen OM close above $0.43, wicking as high as $0.49, as if it were trying to retest the local resistance last seen on May 10, when it closed at $0.47. It’s like a game of hide and seek, but with numbers! 🎭

Now, the RSI is still lounging in the oversold territory at a cozy 28. Meanwhile, the MACD momentum is feeling quite bullish, with the MACD line above the signal line, and the histogram printing green for nearly a month. It’s like a traffic light that forgot to change! 🚦

If this volume and momentum keep up, the next immediate resistance lies in the $0.60–$0.70 zone—the previous major support from late March to late June last year. A breakout above this could open the path toward $0.85, and eventually $1.20, both significant horizontal levels from prior consolidation ranges. It’s like a treasure map, but with fewer pirates! 🏴‍☠️

Despite the Upbit listing and a spike in volume, we’re left wondering if this breakout will stick around or fade away like last week’s leftovers. 🍕

However, recent developments offer reasons for cautious optimism. Nansen’s addition as a validator on MANTRA Chain brings a touch of institutional credibility, and the project’s burn of 300 million OM—including 150 million from its founder—signals a strong commitment to rebuilding trust and strengthening tokenomics. It’s like a phoenix rising from the ashes, but with more spreadsheets! 🔥

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2025-05-21 11:27