bullish

Million

April

MANTRA

Coin

The MANTRA coin price has remained extremely bullish over the last month and in the first half of 2024, with prices continuing to push higher. The remarkable gains have signified that people have made money, and the ATH was achieved at $1.41.&nbsp; 
Meanwhile, the significant price action happens to be forming a pullback for another propulsion. 
Similarly, per the address financial data, the total addresses with a balance are 11.39K. Of them, 92% of holders are in profit, and only 2% are in loss. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="195" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-1024x195.png" alt="On-chain Summary | Source: IXFI" class="wp-image-647183" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-1024x195.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-300x57.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-768x146.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-150x29.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-696x132.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40-1068x203.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-40.png 1352w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 On-chain Summary | Source: IXFI
 </figcaption>
</figure> 
The concentration of large holders in the <a href="https://www.thecoinrepublic.com/price-prediction/mantra/">MANTRA </a>(OM) is significantly high, where investors held 332.95 Million OM. That makes 37.46% of the total, and the retail crowd owns a tiny part of 5.67%, which makes 50.38 Million OM.&nbsp; 
The whale concentration is significantly large at 56.88%, where they hold 505.56 Million OM coins and that’s a big number. 
<h2 class="wp-block-heading" id="h-about-mantra-om-amp-its-price-action">About MANTRA (OM) &amp; Its Price Action</h2> 
Mantra coin’s market cap rank at press time was 68th, and it has been a security-first RWA (real World Assets) Layer 1 blockchain. Its market cap was $1.019 Billion, and its circulating supply was 836.67 Million. The FDV, based on its current price, stood at $1.083 Billion. 
The stars were green, and the market cap surged 4%. The spot volume inflows had spiked 126% to $30.3 Million. However, the only concern that appears at the moment lies in its liquidity, which has been low at 3%. 
<h2 class="wp-block-heading" id="h-are-perpetual-markets-fueling-mantra-s-engine">Are Perpetual Markets Fueling MANTRA’s Engine?</h2> 
Perceptual market data showed that volume inflows have sparked more than 201%. It signified heightened interest, with the amount reaching $153.65 Million.&nbsp; 
More contracts have been opened in intraday by 12.73%, amounting to $26.07 Million worth of contracts in total (at press time). 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="255" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-1024x255.png" alt="OM Total Liquidations Chart | Source: Coinglass" class="wp-image-647173" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-1024x255.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-300x75.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-768x192.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-1536x383.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-150x37.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-696x174.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38-1068x266.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-38.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 OM Total Liquidations Chart | Source: Coinglass
 </figcaption>
</figure> 
The long-short ratio has improved to 0.9865, with more shorts than longs in 24 hours. The shorts liquidated were worth $145.72 K. At the same time, the longs were less liquidated at $99.72K. 
The overall perpetual and derivatives markets are showcasing bullish perspectives. 
<h2 class="wp-block-heading" id="h-shoveled-into-the-enveloped-growth-of-mantra-om-so-far-in-detail">Shoveled Into the Enveloped Growth of MANTRA (OM) so far in Detail</h2> 
OM had delivered a 3100% spike from $0.0324 to $1.044 by April 11th, 2024, a remarkable journey starting in 2024 after an elongated 2023 flat price structure.&nbsp; 
The massive bullish impulse from bulls was witnessed at $0.2170, where the $0.71 zone was the sturdiest. At this level, the price had taken a lot of retests amid multiple broader market dips. However, the asset had not wavered at all from the $0.71. 
The consolidation was nearly over around June 24th, 2024. At that time, the price displayed a rocketed move of over 120% gains in a month. That led to the formation of an all-time high.  
<a href="https://in.tradingview.com/chart/OMUSD/dCgELg5z-Shoveled-Into-The-Enveloped-Growth-Of-Mantra-OM-So-Far-In-Deta/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
The ATH did witness slight profit booking from the cruisers, as investors and whales kept their holdings intact. That led the price to form a support at $1.10. It appeared to be heading to complete the pullback by piercing through the ATH of $1.41 ahead soon. 
<h2 class="wp-block-heading" id="h-indicators-forecast-of-mantra-om">Indicators Forecast of MANTRA (OM)</h2> 
The last two weeks had caused other indicators to depict the pullback as bearishness, but it’s not been ascertained yet. It has not successfully breached the dynamic supports of the 50-day and 200-day EMAs.&nbsp; 
Meanwhile, the bearish cross has been displayed in MACD above the zero line. The histogram was negative at 0.021, and RSI swept below 14-SMA, taking support from the median line and flashing at 56.16. 
Therefore, based on current optimism, the price could have another launch, where the new ATH would be the first resistance. The other would be the round number $2.0 or nearby.&nbsp; 
On the contrary, the breach of $1.10 would generate a decline, eyeing $0.90 and $0.71 support, respectively. 
The post <a href="https://www.thecoinrepublic.com/2024/08/04/derivatives-fuel-mantra-om-coin-surge-can-it-claim-2-mark-soon/">Derivatives Fuel MANTRA (OM) Coin Surge: Can It Claim $2 Mark Soon</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Derivatives Fuel MANTRA (OM) Coin Surge: Can It Claim $2 Mark Soon

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