The altcoin MANTRA has exploded out of a three-month downtrend, registering a staggering 46% gain in just 24 hours. This rally has caught the attention of both retail traders and analysts, many of whom now see further upside potential for OM in the weeks ahead.
After struggling under a prolonged bearish phase that saw prices consolidate below $0.25, MANTRA suddenly burst past the $0.30 mark on July 20. The move was accompanied by high trading volume, suggesting renewed interest and confidence from market participants. But what’s behind this breakout and could it sustain?
Why MANTRA Is Suddenly Pumping
According to on-chain data and recent analyst commentary, the MANTRA rally seems to be driven by three key catalysts:
- Oversold Reversal & Technical Breakout – After weeks of consolidation, OM printed a clear breakout above horizontal resistance, as shown in the tweet from CryptoBull_360. The breakout formed a strong bullish engulfing pattern on the daily chart, targeting the $0.43–$0.46 range next.
- Renewed Interest from Asian Traders – A recent Bithumb Feed indicated increased search volume and spot activity for MANTRA, particularly among Korean retail investors. Historically, coins trending in Korea often experience sharp upside movements.
- Speculation on Future Ecosystem Utility – Although OM’s fundamentals haven’t shifted dramatically in the past month, traders may be positioning for potential DeFi announcements or integrations. Some speculate MANTRA could expand its presence across modular Layer 1 chains, capitalizing on the growing cross-chain ecosystem.
Technical Analysis: What Comes Next for OM?
Examining the daily chart (see attached), OM has now cleanly broken above its June resistance levels around $0.29–$0.30. After peaking at $0.37, the price retraced slightly to the $0.33 range, which analysts see as healthy consolidation after such a sharp move.
This breakout resembles previous accumulation zones that preceded major rallies earlier in the year. If OM holds above $0.32, the next target zone is the previous supply region between $0.43 and $0.46. A move above that could open the door for a push toward $0.50.
Source: Trading View
Support remains near $0.30, while a failure to hold this level could send OM back into the $0.25–$0.27 range. However, current momentum suggests bulls remain in control for now.
What Analysts Are Saying About MANTRA
Crypto analysts are increasingly bullish. CryptoBull_360, who posted a clean breakout chart on Twitter, expects continuation toward $0.45. Others note that OM’s surge comes with improving market sentiment across the DeFi sector.
A few key points from expert sentiment:
- Volume confirms the breakout, not a fakeout.
- OM remains undervalued relative to other DeFi governance tokens.
- A return of risk appetite among retail investors could fuel another leg up.
However, some caution is warranted. Without a fundamental driver or roadmap update, the pump could be short-lived if broader market conditions weaken.
Final Thoughts: What This Pump Means for MANTRA
MANTRA has defied recent trends and posted one of the strongest single-day rallies in the altcoin market. While this move may attract profit-takers in the short term, analysts agree that OM could have more room to run especially if the token builds on this technical momentum with strong ecosystem news.
Investors should watch the $0.30 support closely and track Korean trading activity, which has played a key role in recent spikes. For now, MANTRA is back on the radar and the charts suggest this might just be the beginning.
