Date: Sat, Nov 16, 2024, 09:55 AM GMT
The cryptocurrency market is buzzing with activity as Bitcoin (BTC) reclaims bullish momentum, surging 4% to surpass $91,000 after two days of correction. Riding on the back of this rally, top Real World Asset (RWA) token Mantra (OM) has stolen the spotlight, making an incredible 40% gain in the last 24 hours. This surge has propelled OM to a new all-time high (ATH) of $2.72.
Major Announcement Hint
The recent OM rally was sparked by a cryptic yet exciting tweet from the Mantra team 10 hours ago, which read:
“Sherpas! Something BIG is Coming! 👀”
Sherpas!
— MANTRA | Mainnet Live (@MANTRA_Chain) November 15, 2024
Something BIG is Coming! 👀 #HomeOfRWAs pic.twitter.com/iJeyYSMick
The market responded swiftly to the announcement hint, fueling a massive 70% pump that saw OM soar from $1.55 to the ATH of $2.72. This rally also resulted in a successful breakout of its previous ATH level of $1.63, as evident in the daily chart (1D).
If the Mantra team announces a major update, we could see another price rally, pushing OM to even greater highs.
What’s Next?
Following the explosive rally, OM is currently undergoing a correction phase.
Support and Resistance Levels
On the 15-minute chart, OM has pulled back to the key support zone of $2.23. This area is crucial for short-term market sentiment:
- A reversal from this level could push OM toward the resistance zone at $2.72.
- The RSI indicator shows that OM is oversold, further strengthening the case for a potential bounce.
However, in the event of a support breakdown, OM could dip to the $1.80 level before finding a solid base.
Conclusion:
Mantra (OM) has captured the market’s attention with its remarkable surge to a new ATH of $2.72, driven by speculation around an exciting announcement. If the team follows through with a major update, another price rally could be on the horizon.
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