Ethereum

Convergence

Flow

Time

Divergence

<ul class="wp-block-list">
 <li>Mantra has experienced a 191% gain in the past seven days.</li>
 <li>OM trades at $4.18, with its ATH standing at $4.47.</li>
</ul>
The crypto market is moderately bullish, with the total market cap settled at $3.09 trillion. The largest cryptocurrency, Bitcoin, trades at $91.8K. The asset’s dominance led the altcoins to surge. While Ethereum (<a href="https://thenewscrypto.com/is-ethereum-eth-setting-up-for-a-trend-reversal/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) rests at the $3.1K mark.
Investors are focusing on the promising <a href="https://thenewscrypto.com/top-5-altcoins-loved-by-people-of-united-states/" target="_blank" rel="noopener noreferrer nofollow">altcoins</a>, as the alt-season is looming. Among the altcoins, MANTRA (OM) has hit its all-time high at $4.47 and is listed in the top five gainers. The asset’s positive outlook with a 25.52% gain drove it to trade higher for the day.
As of writing, OM is <a href="https://coinmarketcap.com/currencies/mantra/" target="_blank" rel="noopener noreferrer nofollow">traded</a> at $4.18 with a market cap of $3.73 billion. During this timeframe, CMC data revealed that Mantra’s daily trading volume was $769 million. Meanwhile, the asset has witnessed a 24-hour <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">liquidation</a> of $7.64 million.
Over the past seven days, Mantra has gained over 191%. It began trading at $1.39. The mid-week high is marked at $1.84, and the asset steadily soared to the current price levels.&nbsp;
On the other side, a whale has <a href="https://x.com/spotonchain/status/1858406704960217439" target="_blank" rel="noopener noreferrer nofollow">deposited</a> 600K OM worth $2.55 million to Binance. The whale had previously withdrawn 1.49 million OM in June 2023. With 889K Mantra valued at $3.76 million still held, its estimated profit stands at $6.26 million.&nbsp;
Notably, whale activity has increased as the asset’s price hikes. As per on-chain <a href="https://x.com/spotonchain/status/1857635658468307444" target="_blank" rel="noopener noreferrer nofollow">data</a>, on Nov 16, a whale withdrew 1.2 million OM from Binance. The whale’s estimated profit now stands at $36.94 million.
<h3 class="wp-block-heading" id="h-can-om-keep-its-bullish-trend-alive">Can OM Keep Its Bullish Trend Alive?</h3>
OM’s Moving Average Convergence Divergence (MACD) line rests above the signal line, inferred by the four-hour technical chart. It suggests the upside pressure and an impending positive sentiment.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdROL6DyNRZHU95SyQbR2eup-FwI9S7H0-nA26Ssj_zZIifBDjj3vIxvAwRfqDyMKjAmSiAt3VQO6A2ZNz5lA_snvWQKzkqEqLsNlJtKbg6QVWiGRAO-Bvlu2FnRGYU5RzoqroU3g?key=0NSxEmA2cBqRZUewUwpVk7Il" alt="">
 <figcaption class="wp-element-caption">OM chart (Source: <a href="https://in.tradingview.com/symbols/OMUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Besides, the Chaikin Money Flow (CMF) indicator is located at 0.21, indicating a positive money flow with buyers steering the market. Meanwhile, the trading volume of OM has surged by over 33.85%.&nbsp;
According to analysts, if the asset’s positive sentiment remains strong, it can effortlessly break the all-time high. While assuming an extended gain of OM, the asset’s bull might lead the price to a potential $5.40 mark. This upside trajectory of the asset could even trigger the price to hit $7.&nbsp;
On the support side, if a bearish trajectory appears, the asset’s price could slide to $3.62. Further declines in Mantra might push the price to plummet even lower to the $1 range.
Moreover, the <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3AOMUSD" target="_blank" rel="noopener noreferrer nofollow">asset</a> is in the overbought territory in the market, as suggested by the daily relative strength index (RSI), situated at 82.82. In addition, the daily frame of Mantra exhibits the short-term 9-day MA above the long-term 21-day MA.&nbsp;
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Mantra (OM) Secures New All Time High with 191% Surge

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