Date: Wed, March 12, 2025 | 02:30 PM GMT
The cryptocurrency market has been under pressure as major altcoins continue to face sharp downtrends following the November rallies. Ethereum (ETH) has plunged from its early December high of $4,000 to $1,878, causing a ripple effect across altcoins.
However, despite this market turmoil, Mantra (OM) has remained a standout performer, defying the bearish trend with an impressive 53% gain over the last 90 days. This strong performance has kept most of its investors in profit.
90% of Holders in Profit
According to recent data from CryptoRank, Mantra (OM) currently ranks second among the top 10 tokens with the highest percentage of holders in profit, with 90% of its investors seeing positive returns.
The primary factor behind this success is the staggering 11,700% growth of OM since January 2024. This extraordinary surge has positioned OM as one of the best-performing tokens in the market, outpacing most other altcoins struggling under bearish conditions.
Are More Gains Ahead?
Looking at OM’s daily chart, the recent market-wide drop pushed OM’s price down to test the 50-day Moving Average (50MA) support (highlighted in the green circle) as well as the ascending trendline support. However, OM has shown resilience, bouncing back above these levels to trade at $6.38.
Historically, similar 50MA tests (marked in orange circles) have resulted in strong rebounds, leading to major price surges. If this trend continues, OM could be on track to retest its all-time high (ATH) of $9.11, potentially consolidating before another leg up.
However, OM must hold this support level to maintain its bullish outlook. A successful bounce could lead to further gains, while failure to hold could trigger increased selling pressure, potentially pushing the price toward lower support zones.
Final Thoughts
Mantra (OM) has continued to outperform most altcoins, with strong technical support and historical price action favoring a bullish outlook. As long as the 50MA support holds, OM could see further upside, making it a token to watch in the coming weeks.
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