Mantra price is showing fresh signs of life with a double-digit price jump and surging volume — Is OM about to breakout?
Mantra (OM) price is up over 10% in the past 24 hours, with trading volume surging more than 500%, buoyed by a listing on South Korea’s largest exchange, Upbit.
After crashing from a high of $6.26 on April 13 to an intraday low of $0.42, OM price entered a period of tight consolidation. Between May 1 and May 20, the price ranged mostly between $0.37 and $0.42, with lows around $0.36–$0.38 and highs capped at $0.42–$0.43.
This changed with the latest breakout as OM closed above $0.43, wicking as high as $0.49, retesting the local resistance last seen on May 10, when it closed at $0.47.
RSI remains in the deeply oversold territory at 28. However, MACD momentum is bullish, with the MACD line above the signal line and the histogram printing green for nearly a month.
If volume and momentum sustain, 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.
Despite the Upbit listing and a spike in volume, it remains to be seen whether this breakout will sustain or fade like the May 10 spike, with the price falling back into the range.
However, recent developments offer reasons for cautious optimism. Notably, Nansen’s addition as a validator on MANTRA Chain brings 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.
