Mantra Dao Symmetical triangleam long on mantra, i suspect a breakout of the triangle as alts are now having a nice run, btc.d is still falling.
Mantradao
Symmetrical triangle in Mantradao Cup and handle near completionThere has been a symmetrical triangle pattern forming inside the handle on Mantradao's cup and handle pattern on the daily chart. Considering the potential for Ethereum defi tokens given the recent Eth upgrade, OM may have just printed the final higher low before breaking out of this triangle.
🌧️ 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.
$om @mantradao Long PositionWe need a close above the 50 cent psychological resistance and we full zend!
Mantradao pullback on daily chart continues to print higher lowsDespite recent negative price action, Mantradao is continuing to print higher lows on the daily chart and the 20EMA is also holding above the 50. Prices remain above the 0.618fib level, which is acting as key support.
🆓MANTRA DAO/USDT Analysis (6/4) #OM $OMThe buying force is still trying to stop the decline of OM and if successful, it will help OM in moving up to 0.65$ or even 0.85$ zone in this April
📅EVENTS
👉Apr 6 : TRO & GAINS Launch
👉Apr 7 : FMT Launch
👉Apr 7 : Zendit Token Offering
📈BUY
-Buy: 0.44-0.46$. SL B
📉SELL
-Sell: 0.64-0.66$. SL A
-Sell: 0.83-0.87$. SL A
♻️BACK-UP
-Sell: 0.44-0.46$. SL A
-Buy: 0.34-0.36$. SL B
❓Details
Condition A : "If 8H candle closes ABOVE this zone"
Condition B : "If 8H candle closes BELOW this zone"
Mantradao Cup and handle targetsA rough estimate on the cup and handle forming with the OMUSDT daily chart suggests the potential for a breakout to above $1.20. That being said, the 1.618 fib extension from the top of the cup is at a slightly lower $1, which is an obvious key psychological level, where may people may be looking to take profit. However, before any break out occurs OM could also face some selling pressure around the 59-60 cent level.
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
$om @MantraDao Breakout Again! #bullish In my opinion if we break the fifty cent phycological barrier we get sent to fifty-six cent area with little resistance. #zendit
Mantradao OMUSDT - The Mother of all Cup & Handles?Mantradao Om is currently downtrending with the rest of the market, but it is still above a key support level. The daily chart has retraced to the 0.618 fib golden pocket zone from its recent high and despite the MACD and RSI appearing bearish still, is potentially forming an impressive cup and handle.
$om @MantraDao $om needs to reclaim the fifty cent support to return BULLISH again! #btfd not financial advice just my opinion.
$om @MantraDao Breakout Again! #bullishUpdated Chart - Had this new chart ready to go a couple hours ago, but was waiting for confirmation.
OMUSDT (MANTRA DAO) - BUY ENTRY ANALYSIS 🔎
- OMUSDT hit an ATH and retraced.
- Price retested the flip horizontal support (FHS) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a relatively high concentration of buyers at the retest zone.
- Price action printed the bullish double bottom (DB) pattern.
- Price brokeout above the double bottom (DB) neckline resistance (NR).
- This is a bullish signal.
- The market is currently undergoing a minor retracement, retesting the neckline resistance (NR) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's an uptrend continuation possibility from this zone.
BUY ENTRY ⬆️
- Market price.
TARGETS 🎯
- Swing high resistance (0 fibonacci retracement level).
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the double bottom horizontal support level (1 fibonacci retracement level) (S1).
Mantradao OM support levels & consideration of Poloniex chartChart structure, fib levels and 4hr 50 EMA could indicate OMUSDT is above strong support even if the 20 EMA doesn't hold. Consideration of the first hour's candle from the launch day on the Poloniex chart (which is not recognised by Coin Gecko or Coin Marketcap) suggests a 4x would be needed for a new ATH on that chart.
It's also noteworthy to mention that at the time of posting this, OM would need to do more than a 6x for the market cap (based on circulating supply) to surpass $1 billion.
Where do you think OM is on the Wall St Cheat Sheet & did you buy into that massive candle on the Poloniex launch?
OM/USDT Setting up for upwards breakout!Mantra Dao is seriously gaining momentum and setting up a major breakout.
The target is high but not out of reach.
We found new support which defines our trading range before the breakout.
Enjoy the ride and don't be too greedy.
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Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Green lines are tested support lines.
Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
Cyan line is for volume trendline.
Purple lines are trendlines we take a look at.
Yellow lines are for visual help only.
Mantradao OM: new ATH & 10x so far this year. Where next?Mantradao has formed a perfect cup on the weekly chart and hit a new all-time-high in the last 24 hours. It now has strong support around 50 cents with a 0.618fib golden pocket giving support at 32. Next macro target is $1 as this will most likely be a key psychological level, although the 1.618 fib extension target (not shown) would now be $1.15. As the fundamentals of this project keep improving along with growing awareness, the question now is when this target can be hit rather than if. What are your thoughts?
Potential trend reversal could see OMBTC at 900sats soonMantradao's OMBTC pairing on Binance appears to be forming an ascending triangle which could be a reversal pattern. It's arguably working on an inverse head and shoulders if you squint hard enough). If it were to break to the upside, the indicated price target would be around 900sats. However, one must remember that this is a very new chart and be accordingly cautious.
Mantradao looking strong in aftermath of Binance listing Mantradao's OM token has had a fairly standard price spike following its listing on Binance. After breaking out of a descending wedge, its next bullish target looks to take it back up to the level it was trading at last September.
Link to article on Binance effect here: bitcoinexchangeguide.com
OM longHi traders!
OM is looking veeery good!
-Nice fundamentals
-Strong brake out with high volume and retest
-Correction in shape of ABC where C is ending diagonal(1-2-3-4-5)
-Bullish brake out of ending diagonal and retest now
-BTC pair is also looking promising
🚀 🚀 🚀
Trade safe!😎
Mantradao OM Binance pumpMantradao is doing well today following its Binance listing. Statistically these listings can result in a 106% price spike, though even that would still be below its previous ATH.
Mantradao Cup and handle appears to remain in play.☕️After bouncing off the 4hr 200EMA from a descending broadening wedge, OMUSDT's cup and handle speculated previously appears to remain in play. OM's seen a fair bit of price action around this level before, so we might bounce around here a while longer. However, if the market remains bullish we could soon se a breakout up to around the 50cent mark indicated by the crockery.
