{"id":572375,"date":"2024-09-03T15:19:20","date_gmt":"2024-09-03T15:19:20","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=572375"},"modified":"2024-09-03T15:19:20","modified_gmt":"2024-09-03T15:19:20","slug":"mantra-price-prediction-mantra-surges-9-as-investors-pivot-to-a-new-meme-coin-thats-closing-on-1-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/mantra-price-prediction-mantra-surges-9-as-investors-pivot-to-a-new-meme-coin-thats-closing-on-1-million","title":{"rendered":"Mantra Price Prediction: MANTRA Surges 9% As Investors Pivot To A New Meme Coin That’s Closing On $1 Million"},"content":{"rendered":"

The Mantra price has surged 9% in the last 24 hours to trade at $0.9967<\/a>  as of 7.30 a.m. EST on a 95% pump in trading volume to $21 million.<\/p>\n

The Mantra Price Faces Resistance: Can The Bulls Continue The Momentum?<\/h2>\n

The OM\/USD chart on the 1-hour timeframe shows a strong bullish structure, highlighted by a parabolic price move that took the asset from the support zone around $0.85 up to the current consolidation level near $0.9967.<\/p>\n

This sharp increase followed a significant breakout and was fueled by a bullish crossover between the 50-period SMA at $0.93 and the 200-period SMA at around $0.91, often referred to as a “Golden Cross.”<\/p>\n

This crossover signals a shift in market momentum, indicating that the short-term trend has gained strength over the longer-term trend, often setting the stage for continued upward movement.<\/p>\n

\"Mantra\"<\/p>\n

OMUSD Analysis  Source: Dextools.io<\/p>\n

The price is currently consolidating just below the $1.00 mark, indicating that the market is pausing as buyers and sellers struggle to gain control. This consolidation phase is critical as it often precedes a breakout or breakdown, determining the next direction of the trend.<\/p>\n

The MACD indicator shows the momentum is still in favor of the bulls, with the MACD line above the signal line and a positive histogram, although the bars have started to shorten, indicating a potential slowdown in bullish momentum.<\/p>\n

The Relative Strength Index (RSI) is sitting at 66.57, approaching the overbought territory but not quite there yet, suggesting that there is still room for upward movement.<\/p>\n

However, traders should be cautious as the buying pressure might ease up when the RSI reaches the 70 overbought zone.<\/p>\n

Mantra Price Prediction<\/h2>\n

The current consolidation near $0.9967, just below the psychological $1.00 mark, suggests that the market is at a critical juncture.<\/p>\n

With the strong bullish momentum from the recent parabolic move and the Golden Cross between the 50-period and 200-period SMAs, the likelihood of a continuation to the upside appears favorable.<\/p>\n

If the price can break above the $1.00 resistance level with strong volume, we could see a further rally, potentially targeting the next significant resistance levels around $1.05 and beyond.<\/p>\n

Conversely, if the price fails to break above the consolidation zone and selling pressure increases, a short-term pullback is possible, with support likely near the 50-period SMA around $0.93.<\/p>\n

This would allow the market to cool off and reset before possibly making another attempt at higher levels.<\/p>\n

Crypto All-Stars Presale Rockets Toward $1 Million: Best Meme Coin To Buy Now?<\/h2>\n

As the Mantra price surges, the Crypto All-Stars (STARS)<\/a> ICO is hurtling towards $1 million raised. According to Jacob Bury, a prominent crypto YouTuber with over 42k subscribers, $STARS has the potential to soar 10X after its launch.<\/p>\n