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Mantra

🈹OM - 120 days of accumulationAs global markets SP:SPX NASDAQ:NDAQ are dumping, so is Bitcoin. This obviously strongly affects altcoins as well. Those aren't the best conditions to trade in, but: The price has been consolidating on 200EMA/key level/node of high volume for over 120days now, and it seems like the accumulation is near its end. In choppy price action, it is hard to rely on trendlines, although we may notice some sort of triangle pattern squeeze happening right now. Technical indicators are telling us that money keeps flowing in, and buyers are taking the control as MFI keeps going up. This could mean, that we could soon see a breakout from: - the accumulation zone(above key level) - macro triangle formation(break dynamic resistance-blue) - horizontal resistance area(red area) In case the market keeps dumping, ideally we'd like to see the price stay above the support area, otherwise the accumulation "power" might be used to push the price lower. Entry: average buy between current price and the area of support(green area) Targets: 0.295 0.338 0.436 0.523 0.608 0.685 0.810 0.882 + use mid/top of the channel trendline as dynamic target ------------------ About OM: MANTRA DAO is a decentralized finance platform with a specific focus on staking, lending and decentralized governance. The project is being built on the blockchain RioChain and will be connected with Polkadot. It is intended to act as an ecosystem for Web 3.0. The platform uses a native utility token, OM, for staking, lending and governance. While the project plans to move to the Polkadot network, the token has been initially issued on the Ethereum blockchain. MANTRA DAO was first announced in June 2020, and the platform went live with its first feature, staking, in October 2020. Source: coinmarketcap
Long
by V0VOLAN
1
MANTRA DAO vs Tether (OM)MANTRA DAO (OMUSDT) has multiple bullish signals with mixed feelings on this chart. Mixed feelings because the action is yet to start but the technicals are bullish, I'll explain. Prices are trading above the important MA200 and EMA300 indicators. Also EMA10, EMA50 and EMA100 (not marked). We have a long consolidation period for the past three month or so. This pair did good for us in the past, it can do so again. We are bullish above EMA300/MA200 ($0.210-$0.203). Below this level; warning but bullish long-term. This is what I see happening (green arrows). Either up from the current price or a drop and up anyways. Build your own plan before trading. This should only be used as an extra. This is not financial advice. Thank you for reading. Namaste.
Long
by AlanSantana
1
🌧️ OM Possibility Of BreakoutOM has been in a symmetrical wedge for a while now, after dying down from its hype quite a while ago. It may be time for an upswing again after some heavy consolidation. Wait for the breakout of the wedge and find support around the $0.5 level. From there, we can expect healthy gains back up to near ATHs. Note: This is a risky trade since this is a small cap coin and the project is in its early stages. Please do your own research. This is not financial advice.
Long
by RainyTrader
10
Mantra Dao (OM) Cup and Handle SetupOM shows a long term bullish setup. We have a cup and handle pattern, as well as a retrace currently that extends down to the 61.8% line. The bounce off of this line is bullish by itself, but once the lid is broken, we should see some steep gains up to $1.80 - $2.20 Target for this pattern is technically lower, as previous lip is lower, however because we are in bullish season and about to see the peak of altcoin season, I have adjusted the target from $1.20 to $2.20 The current Fibonacci trade we have would take us to around $1.40, $2.20 and $3.60 - I believe we will at least hit $2.20
Long
by Shwayze
28