MANTRA has made leaps and strides towards a new ATH, whilst the rets of the market was trading lower for the past few weeks.
But it seems the buying pressure has run out, if we take a look at the technical indicators.
Interestingly enough, if we take a look at OM through the Weekly timeframe and we pull up the Fibonacci extension, the current cycle ended at exactly 2.618 - a significant marker in the Fib zones.
It is said that, after reaching 2.618, a retracement to 0.786 is probable. This would put us roughly at the major previous resistance zone before the ATH breakout:
The Moving Averages is another great place to watch for possible bounce zones:
After this correction (which could go even lower) the price could potentially bounce back, as it gears up for a new ATH. I'd be looking to buy from the 0.786 and lower, possibly as low as the $2 mark.
________________________
OMUSDT
But it seems the buying pressure has run out, if we take a look at the technical indicators.
Interestingly enough, if we take a look at OM through the Weekly timeframe and we pull up the Fibonacci extension, the current cycle ended at exactly 2.618 - a significant marker in the Fib zones.
It is said that, after reaching 2.618, a retracement to 0.786 is probable. This would put us roughly at the major previous resistance zone before the ATH breakout:
The Moving Averages is another great place to watch for possible bounce zones:
After this correction (which could go even lower) the price could potentially bounce back, as it gears up for a new ATH. I'd be looking to buy from the 0.786 and lower, possibly as low as the $2 mark.
________________________
OMUSDT 
Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.