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Mantra (OM) price action on the 8-hour time suggested an overall bullish trend with another small rally in the making. 
The descending channel from early August through mid-September suggested a bearish trend during this period. However, the breakout from the channel initiated a change in trend. 
The shift noted a sharp increase in buying momentum. This pushed the&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/03/mantra-om-price-analysis-could-a-bullish-breakout-be-coming/">Mantra</a> price from deep within the bearish channel to higher levels. 
The recent formation of bullish pennant, was typically indicative of a continuation pattern. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="565" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-1024x565.png" alt="OM/USDT 8-hour chart | Source: Trading View" class="wp-image-876843" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-1024x565.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-300x165.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-768x423.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-1536x847.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-150x83.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-696x384.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI-1068x589.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/GegM2SBaEAEZyUI.png 1919w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 OM/USDT 8-hour chart | Source: Trading View
 </figcaption>
 </figure>
</div> 
The pennant structure pattern was indicative of a period of consolidation around $3.00 before a potential continuation of the prior trend. 
A breakout above the pennant’s upper boundary could suggest an ongoing bullish wave. The potential price target around $3.52, represents a 21.68% increase from the consolidation area. 
This target aligned with the narrative that a successful breakout could lead to a 30-35% surge. It echoed sentiments of sustained bullish momentum. 
The recent movement indicated that OM could be gearing up for further gains if the bullish sentiment holds and the market conditions remain favorable. 
This setup supported expectations of increased future valuation. It could be potentially driven by renewed investor interest and market speculation surrounding the Mantra ecosystem. 
<h2 class="wp-block-heading" id="h-bid-amp-ask-delta-and-open-interest">Bid &amp; Ask Delta and Open Interest</h2> 
Open Interest experienced notable fluctuations with a spike that coincided with large price movements, particularly the surge and subsequent decline around November. 
This retesting of breakout levels with high Open Interest signified robust market engagement and could be interpreted as a signal of potential volatility or continued interest in OM. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="580" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-1024x580.png" alt="Open Interest and Bid &amp; Ask Delta | Source: Coinglass" class="wp-image-876848" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-1024x580.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-300x170.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-768x435.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-1536x869.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-2048x1159.png 2048w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-150x85.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-696x394.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-1068x605.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Binance-undefined_2024-12-11_23-20-42-1920x1087.png 1920w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Open Interest and Bid &amp; Ask Delta | Source: Coinglass
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 </figure>
</div> 
The recent aggregated bids and asks data pointed towards a predominance of bids coinciding with rising Open Interest, suggesting that buyer dominance was helping to sustain or push prices higher. 
The Open Interest that was retesting significant levels while Bid &amp; Ask Delta showed buyer dominance could indeed provide OM market with the necessary support to potentially surge by the predicted 35%. 
This dynamic hinted at a bullish sentiment prevailing in the market, as more traders were possibly positioning themselves for further upward movements in OM’s price. 
<h2 class="wp-block-heading" id="h-large-transaction-volume-trades">Large Transaction Volume Trades</h2> 
There was a noticeable peak in transaction volumes in USD by size for&nbsp;<a href="https://www.thecoinrepublic.com/2024/10/06/mantra-om-price-poised-for-ath-breakout-is-2-mark-next/">OM</a>&nbsp;around mid-November indicating that there was a significant proportion of higher value transactions, particularly in the ranges of $100k-$1m and $1m-$10m. 
This surge in high-value transactions indicated strong activity by large holders or institutional participants, which could lead Mantra’s price to higher levels. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="260" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-1024x260.png" alt="Large transaction volume trades | Source: IntoTheBlock" class="wp-image-876853" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-1024x260.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-300x76.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-768x195.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-1536x390.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-150x38.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-696x177.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142-1068x271.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/Screenshot202024-12-1120231142.png 1718w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Large transaction volume trades | Source: IntoTheBlock
 </figcaption>
 </figure>
</div> 
The 30-day change percentages indicated explosive growth in transactions across nearly all categories. This was particularly notable in the $10k-$100k with more than 87.00%, $100k-$1m with 175.34%+ and $1m-$10m had+54.76%. 
The spikes in large transaction volumes often precede or coincide with uptrends. The surge in high-value transactions could potentially drive a 35% surge in OM’s price. 
This is because large transactions can significantly affect market sentiment and liquidity, thereby influencing the price trajectory of OM. 
The post <a href="https://www.thecoinrepublic.com/2024/12/13/mantra-price-could-surge-35-as-buyers-dominate/">Mantra Price Could Surge 35% as Buyers Dominate</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Mantra Price Could Surge 35% as Buyers Dominate

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