A large Mantra (OM) holder has made a major move, depositing nearly 800,000 OM worth $4.33 million into Binance. The whale initially withdrew approximately 4.4 million OM, valued at $15.95 million, before transferring 3.6 million OM to another address 13 hours prior.
The remaining OM tokens have appreciated, now worth $23.96 million, resulting in an $8 million profit. Onchain Lens (@OnchainLens) highlighted the whale’s transaction, noting its impact on market sentiment. Such large movements often signal upcoming volatility, with traders watching closely for potential market shifts.
Just In: A whale has deposited 799,895 $OM worth $4.33M into #Binance after holding for almost 2 months.
The whale initially withdrew ~4.4M $OM at $15.95M and sent 3.6M $OM to another address (13hrs ago).
Currently, these $OM are worth $23.96M, resulting in a profit of $8M… pic.twitter.com/xemnkY3T50
— Onchain Lens (@OnchainLens) February 13, 2025
While many real-world asset (RWA) tokens and altcoins have faced selling pressure, OM has stood out with consistent gains. Market watchers such as BullifyX (@Bullify_X) and Natalia Krypt (@Nataliakrypt) have recognized OM’s resilience.
BullifyX referred to the token as a “blue chip” of this cycle, while Natalia Krypt emphasized OM’s strength in an otherwise declining market. Both analysts see $15 as a potential future target, reinforcing bullish sentiment.
Mantra Price Analysis
Mantra’s price action on the daily chart shows a strong uptrend since mid-November 2024, followed by a consolidation phase in December and early January. The latest rally in late January pushed the price above $6.00 before a minor pullback to about $5.70, at publication.
The Bollinger Bands (BB – 20,2) are widening, reflecting increased market volatility. OM recently tested the upper band, suggesting an overextended rally, and is now retracing. The mid-band (20-day SMA) at $5.42 could serve as a crucial support level, providing a foundation for price stability.
The MACD remains bullish, with the MACD line above the signal line. However, a weakening histogram indicates that upward momentum is decelerating. If the MACD line crosses below the signal line, it may signal the beginning of a short-term consolidation phase.
The RS stands at 59.58, confirming bullish momentum without nearing overbought territory. This level suggests that OM still has room for potential gains. However, a dip below 50 RSI could indicate a shift toward bearish sentiment, warranting caution.
Volume analysis reveals a surge during the initial November rally, followed by lower trading volumes in recent weeks. A renewed spike in volume would reinforce further upside potential, while persistently low volume could suggest extended consolidation or weakening buying pressure.
Read also: This Chart Pattern Signals an XRP Price Rally to $15
Key OM Price Levels to Watch
- Resistance: $6.00 – $6.50 (recent high and psychological barrier); $7.00 (next major target if bullish momentum continues).
- Support: $5.42 (20-day SMA, Bollinger mid-line); $4.20 – $4.50 (previous consolidation zone).
If OM maintains support above $5.42, it could challenge resistance at $6.00 – $6.50. This move could see the token hit $7.00 as it surges toward the $15 target set by experts.
A break below $5.42, however, could push the token down to $4.50 or lower, especially if the MACD turns bearish. A neutral scenario would involve sideways movement between $5.40 and $6.00 before a decisive breakout.
With strong community interest and whale activity in play, Mantra’s price movements remain a focal point for traders, as bullish sentiment builds around its continued market performance.
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