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The MANTRA price dropped 6% in the last 24 hours to trade at $0.3102 as of 00:07 a.m. EST on trading volume that rose 17% to $117 million.
The price retracement comes after the OM price surged 82% in the last seven days.
WTF Happened with Mantra ?!?
I still had 3000 $OM lost on my Metamask and it’s suddenly worth something ! 😅🤔Never had such a fast x10 on my wallet. pic.twitter.com/LWB728YPNi
— CryptomΞdic.eth (@_cryptomedic_) February 10, 2024
MANTRA offers innovative solutions, such as the ability for users to trade, issue, and earn money from crypto and tokenized assets. Additionally, the platform enables developers to create their own decentralized applications.
With such interesting innovations, can OM recover from its drop?
MANTRA Price Bullish, Trading Within An Ascending Triangle
The MANTRA price has been on an uptrend, affirmed by a markup phase from the $0.15 support. However, the bulls seemed to have hit the $0.349 resistance, allowing the bears to exert some pressure. This led to a slight retracement back to the $0.25 support zone.
The struggle between the bears and the bulls seems to be forming a consolidation phase as the price tries to break out.
Additionally, the OM price is trading above both the 50-day and 200-day Simple Moving Averages (SMA), which supports a likely bull rally.
The Relative Strength Index (RSI) indicates a rebound below the 50-midline level to 52, which somehow indicates a neutral trend but with an upward movement. If the bullish momentum is sustained, it could drive the RSI to the 70-overbought region, affirming the bullish prospects of the OM price.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) seems to be rebounding to trade within the same level as the signal line (orange), further supporting the breakout to the upside of the price. The red bars further support this, as they seem to be reducing, heading for the upside.
Furthermore, the Average Directional Index (ADX) is trading above the 20 level at 25, which shows a slight bullish trend.
MANTRA Price Prediction
The short-term analysis of MANTRA’s price indicates a bullish bias, as it signals a potential continuation of the bullish momentum. The formation of an ascending triangle further supports this sentiment, suggesting that the bulls aim to breach the upper boundary of the triangle.
The bulls aim to surpass the previous resistance at $0.349, targeting $0.4 as they clear new resistances at $0.32 and $0.37.
However, in a reverse scenario, some bearish pressure could lead to a retracement to support levels below the lower boundary of the ascending triangle, with $0.25 acting as the likely cushion against downward pressure.
Meanwhile, as the OM bulls aim for new highs, Sponge V2 is attracting interest from investors who believe it can repeat the 100x launch trajectory of its predecessor, Sponge V1.
Buy $SPONGE V2 For Potential 100X Gains
Did you miss the 100X pump of Sponge V1 last year? No need to worry, as you still have an opportunity to buy its sequel, Sponge V2, which is readying to launch on bigger and better exchanges.
If you missed out on $SPONGE V1, don't miss out on #SpongeV2!
Time to stake your $SPONGE! 🚀🧽#MemeCoin #Web3 #Altcoins #BullMarket #Bullish #Trade pic.twitter.com/oNwatR7ihw
— $SPONGE (@spongeoneth) February 10, 2024
After Sponge V1 launched, it accumulated over 13,000 investors and soared to a market capitalization of $100 million, earning listings on over ten major exchanges, including BitMart, Toobit, and Lbank.
Sponge V1 was discontinued on Feb. 5, with the team facilitating a hassle-free transfer of its holders to the more secure and cost-efficient V2 on the Polygon network.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
Stake $SPONGE V2 Tokens, Get Rewarded
You can also buy and stake your $SPONGE V2 tokens, and get rewarded with an impressive 198% annual percentage yield (APY). Additionally, you can earn income through a play-to-earn (P2E) gaming feature, a new feature in Sponge V1’s sequel that’s set to attract new investors and players.
Exciting news, #SPONGERS! 🌟🧽🧽#SpongeV2 is now live! Visit our website to buy and stake $SPONGE V2.
Check it out below! 👇https://t.co/nFOSl1ZCD9#MemeCoin #Web3 #Crypto #Altcoins #CryptoStaking pic.twitter.com/T4DCAKhcxF
— $SPONGE (@spongeoneth) February 6, 2024
The team is planning to launch a new game, Sponge Racer, which features both free and paid versions. Players will engage in various in-game missions, earning token rewards through participation in races.
Jacob Bury, a YouTube crypto analyst, believes Sponge V2 has what it takes for a potential 100X on launch.
To join the presale, visit the official Sponge V2 website and link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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