Mantra’s OM Token Soars 194% Amid Positive Signals

Mantra's OM coin has increased by 194% in just 1 week, with on-chain signals and technical indicators showing positive signs.

Mantra’s native token OM has recorded a staggering gain, jumping around 65% on November 17, bringing its total weekly gain to 194%.

It is particularly noteworthy that large investors (whales) have held their positions despite the triple-digit gains, showing strong confidence in the long-term growth prospects. So do latecomers still have a chance to join the party?

On the 12-hour chart, the recent uptrend has proven its strength by attracting significant buying interest from the Fair Value Gap (FVG).

In theory, prices tend to return to this imbalance (represented by the yellow area on the candlestick chart), creating an opportunity for scalpers to participate.

If this trend continues, investors can watch the FVG zones around $3.5 or $2.6, with upside targets of $5.2 and $6, respectively.

Scenario 1: If the price reaches the $3.5 FVG, investors can expect a gain of around 30%.

Scenario 2: If the price returns to $2.6 before bouncing, the potential profit could be close to 100%, with a target of $5.2.

However, investors need to be cautious and consider the risks as the market trend always contains unexpected fluctuations.

The stochastic RSI is currently in the overbought zone, while the OBV (On-Balance Volume) indicator has reached a record high. This shows extremely strong buying pressure for OM, although the possibility of a short-term price correction is still present.

Whales Remain Bullish

The long positions of whales have contributed to the strong bullish trend of OM. Data from the Whales vs. Retail Delta index (green bar chart) shows that whales have not changed their positions despite the recent triple-digit increase.

This shows that they believe in the long-term growth potential of OM, instead of choosing to take profits early. This is a positive sign, suggesting that another rally of OM is possible.