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🛑MANTRA (OM) OUTPERFORMS BITCOIN, ETHEREUM

🛑MANTRA (OM) OUTPERFORMS BITCOIN, ETHEREUM

Day: 09 | Time: 17:38:22 According to CryptoPotato, Mantra (OM) has seen a 15% increase in the past week, surpassing Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) during a market correction. Analysts suggest that OM could reach new highs if it surpasses key resistance levels, with strong RSI and MACD indicators signaling further upward momentum. OM is the second-largest cryptocurrency in terms of real-world market capitalization and has performed well compared to other cryptocurrencies that have undergone a significant correction. Analysts predict further gains for OM in the future, with new highs of $1.20 if it surpasses the $1.05 resistance. Some technical indicators like RSI and MACD suggest that OM's rally is not yet over. On the contrary, Bitcoin, Ethereum, and Ripple have experienced a significant correction but have slightly recovered from their lows.

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According to CryptoPotato, Mantra (OM) has seen a surge of nearly 15% in the past week, outperforming major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) during a market correction. Analysts suggest that OM could reach new highs if it breaks key resistance levels, with strong RSI and MACD indicators signaling continued upward momentum.

Mantra (OM), the second-largest real-world asset (RWA) in terms of total market capitalization, is among the best-performing cryptocurrencies in the past week. Its price has risen almost 15% during this period, outpacing Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and many others, which have remained deep in the red due to a severe correction witnessed a few days ago.

Analysts predict that OM could record additional gains in the near future. One analyst suggested that the token’s value could spike to a new all-time high of $1.20 if it breaks above the major resistance level of $1.05. The $0.55-$0.60 range was identified as a “support zone.” Certain metrics also indicate that OM’s rally is far from over. The Relative Strength Index (RSI), which measures the speed and change of price movements, is currently set at around 60. A ratio of over 70 is considered bearish as it indicates overbought conditions. The Moving Average Convergence Divergence (MACD), another technical analysis tool, identifies potential buy and sell signals, and according to TradingView’s data, it is currently positioned in the “buy” area.

Not all cryptocurrencies are performing as well as Mantra’s OM. Bitcoin (BTC) fell below $54,000 on July 5, the lowest level in five months, while Ethereum (ETH) dropped under $2,900. Both assets have rebounded from what seemed like their local bottoms and are currently worth around $55,600 and $3,100, respectively. Ripple’s XRP performed even worse, crashing to a one-year low of $0.39. In the following days, it erased some of the losses, with its value rising above $0.43, a 10% decline on a weekly scale.

Source: https://www.binance.com/en/square/post/2024-07-09-mantra-om-outperforms-major-cryptocurrencies-amid-market-correction-10571658236258