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Mantra Price Prediction: OM Plunges 12% As Experts Say This New Green ICO Might Outperform Bitcoin, Solana, And XRP In 2024

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Mantra price
Mantra price

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The Mantra price dropped 12% in the last 24 hours to trade for $0.1560 as of 6:30 a.m. EST time on trading volume that plunged 60%.

It comes amid plans for the Mantra network to redevelop its project roadmap. The plan is that it aligns with the community’s desire to upgrade OM to the MANTRA Chain L1 token.

In a recent report, Santiment analysts indicated that AI and Real World Assets (RWA) tokens would be the next market drivers.

Mantra and its native token, OM, feature in the class, with BlackRock executive Larry Fink saying he believes in tokenizing real world assets.

Meanwhile, the Mantra ecosystem continues to build an RWA-oriented chain with regulatory compliance. Recent developments indicate that the OM community vote has passed for the asset to become the L1 token, with 11% of its circulating supply already staked.

Mantra Price Prognosis

The Mantra price is sitting on the support offered by the 78.6% Fibonacci level at $0.1558. A correction seems likely for the altcoin considering the OM token is already overbought, judging from the Relative Strength Index (RSI) position at 71.

The histogram bars of the Moving Average Convergence Divergence (MACD) are also paling. This shows a waning buying pressure among the bulls.

Nevertheless, the odds continue to favor the bulls considering their strong presence in the OM market. This is seen by large volumes of green histogram bars of both the MACD and the especially the Awesome Oscillators (AO).

Furthermore, the trajectory of the 50-, 100-, and 200-day Simple Moving Averages (SMA) to the north suggests this was the path with the least resistance.

If the bulls show gusto, the Mantra price could pivot around the 78.6% Fibonacci level to scale a recovery rally. This could see the altcoin rise to reclaim the range high at $0.1924. Such a move would denote a 25% climb above current levels. In a highly bullish case OM price could clear this peak and record a higher high above it.

Mantra

TradingView: OM/USDT 1-day chart

On the other hand, increased profit booking could see the Mantra price extend the fall to test the 61.8% Fibonacci level at $0.1270. Further south, the altcoin could descend to the 50% Fibonacci level at $0.1068.  A break and close below this level would invalidate the prevailing bullish outlook.

In a dire case, the Mantra price could extend a leg down to the 38.2% retracement level at $0.0866. If this buyer congestion level fails to hold as support, the price could roll over to the 50-day SMA at $0.0763, or worse, levels as low as the 23.6% Fibonacci at $0.0616. This would constitute a 60% fall below current levels.

Promising Alternative To Mantra

Elsewhere, analysts say eTukTuk is among the best crypto ICOs of 2024, and are optimistic it can outperform Bitcoin, Solana, and XRP this year. It’s a green crypto focusing on electric vehicles, with experts anticipating 10X on launch.

eTukTuk is a revolutionary cryptocurrency project committed to helping Tuk Tuk drivers adopt a more energy-efficient mode of transportation. Developing economies make for the project’s main target, as it leverages the $TUK token to establish Electric Vehicle Charging Stations (EVSEs).

The $TUK token powers its commitment to bringing electric Tuk Tuks and a network of EVSEs to developing economies in South Asia and Africa, starting with Sri Lanka.

Among the key distinguishing factors of the project is that it presents a robust use case. Specifically, it has a well-defined concept, meeting users where blockchain tech and sustainability intersect.

The team is committed to establishing an ecosystem dedicated to combating carbon emissions. This is through the integration of blockchain technology and AI advancements, and the promotion of environmentally friendly transportation options. Ultimately, this is expected to propel the global transition to electric vehicles.

Buy TUK, the ticker for the eTukTuk ecosystem, for attractive discounts at the presale. The token will sell for $0.02625 only for the next seven days after funds raised from the presale surged past $800,000 out of a target objective of $844,058.

eTukTuk

Join the eTukTuk sustainable transportation revolution with its green $TUK token presale. Token holders can stake their TUK for annual percentage yields (APY) as high as 274%. Purchase $TUK tokens and stake them to start earning rewards today!

Visit the eTuktuk website here.

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