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<p>The crypto market has witnessed an uptick in <a href="https://captainaltcoin.com/why-is-mantra-om-price-up-analyst-eyes-big-move-soon/" target="_blank" rel="noopener noreferrer nofollow">Mantra (OM)</a> token prices. Data from CoinGecko reveals an 8.60% increase over the past day.&nbsp;</p>
<p>At press time, <a href="https://www.coingecko.com/en/coins/mantra" target="_blank" rel="noopener noreferrer nofollow">OM trades at $0.9926</a>, accompanied by a trading volume of $36,675,947.&nbsp; This surge has interested market analysts and traders, who have monitored the token’s performance against key price levels and broader market trends.</p>
<h2 class="wp-block-heading" id="strong-om-s-relative-strength-amidst-market-volatility-strong"><strong>OM’s Relative Strength Amidst Market Volatility</strong></h2>
<p>Crypto analyst Miles Deutscher took to X to share insights on OM’s recent price action. Deutscher highlighted the token’s relative strength compared to other altcoins.&nbsp;</p>
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   <p lang="en" dir="ltr">5. <a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a><br><br>Makes the list based on its relative strength.<br><br>Whilst many other alts have been making lower lows, OM has been making higher lows, consolidating below ATHs.<br><br>Range high ($0.95) is the super important level to reclaim to have a stab at the highs (and beyond). <a href="https://t.co/H3lxtJasMD" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/H3lxtJasMD</a></p>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1833179037067604333?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 9, 2024</a>
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<p>Moreover, he noted that while many cryptocurrencies have been establishing lower price floors, OM has consistently formed higher lows. This pattern suggests a bullish trend for OM, even as the <a href="https://news.bitcoin.com/this-week-in-crypto/" target="_blank" rel="noopener noreferrer nofollow">wider crypto market </a>experiences shifts.</p>
<p>The analyst pointed out a critical price level of $0.95, describing it as a “super important level to reclaim.” Deutscher suggests that surpassing this threshold could potentially lead to OM testing its previous all-time highs and beyond. This observation highlights the significance of the $0.95 mark for OM’s short-term price trajectory.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-key-price-levels-strong"><strong>Technical Analysis and Key Price Levels</strong></h2>
<p>OM’s price action reveals a consolidation pattern with several key levels that traders are monitoring. The upper boundary of this range, situated at approximately $0.95, serves as a crucial resistance level. Breaking through this point could trigger increased buying pressure and attract more market participants.</p>
<p>A mid-range support level around $0.73 has acted as a temporary floor during recent price movements. This level has provided a bounce point for the token, indicating buyer interest at these prices. The lower boundary of the consolidation zone, near $0.57, has proven to be a strong support level, preventing further downside movement.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/was-cardanos-chang-hard-fork-upgrade-a-disaster-ada-price-stays-flat/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Was Cardano’s Chang Hard Fork Upgrade a Disaster? ADA Price Stays Flat</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-market-sentiment-and-future-outlook-strong"><strong>Market Sentiment and Future Outlook</strong></h2>
<p>Another market observer, World Of Charts, shared a similar perspective on X, stating that OM is “breaking [a] tight range” and stands “on [the] verge of [a] massive breakout.”&nbsp;</p>
<p>This analysis suggests optimism about OM’s potential to reach recent highs following a successful breakout from its current trading range.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24Om&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$Om</a><a href="https://twitter.com/hashtag/Om?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Om</a> Breaking Tight Range Om On Verge Of Massive Breakout Seems Like Om Can Easily Hit Recent High After Breakout <a href="https://t.co/U6tgiCXkN1" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/U6tgiCXkN1</a></p>— World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1833256665006956911?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 9, 2024</a>
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<p>As OM approaches the critical $0.95 level, market participants are likely to closely watch whether the token can break and hold above this resistance. A successful breach, especially if accompanied by sustained high trading volume, could be seen as confirmation of the bullish trend and might attract further buyer interest.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-mantra-om-price-up/" rel="noopener noreferrer nofollow">Why Is Mantra (OM) Price Up?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Mantra (OM) Price Up?

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