Long
After a -90% Dump, MANTRA(OM) Finds Support!!!
Today, I want to analyze the MANTRA($BINANCE:OMUSDT) project for you, which fell by more than -90% on April 13.
What is MANTRA(OM)?
MANTRA (OM) is a DeFi + RWA (Real World Assets) focused project aiming to bring real-world assets like real estate and bonds on-chain. Built with the Cosmos SDK, it’s developing a purpose-built layer-1 chain to facilitate tokenization and institutional adoption of RWAs.
The main crash reasons:
Massive forced liquidations on exchanges
90% of the token supply reportedly held in a single wallet
Rumors of a rug pull (which the team denied)
Team Response:
MANTRA’s team has launched an internal investigation
Plans for buybacks and token burns are underway
They reassured the community that team tokens remain locked and untouched
-----------------------------------
Technical Analysis:
Now let's take a look at the MANTRA(OM) chart on the 1-hour timeframe.
After the fall on April 13, MANTRA(OM) reacted to the Heavy Support zone($0.45-$0.20) and started to rise again (upward correction).
From the perspective of Elliott Wave theory, MANTRA(OM)'s big fall can be considered as a main wave 3, and it seems that MANTRA(OM) is completing a main wave 4. The main wave 4 could be a Double Three Correction(WXY). Since the momentum of the main wave 3 was high, there is a possibility that main wave 5 will be a Truncated type.
I expect MANTRA(OM) to start rising from the Potential Reversal Zone(PRZ)[$0.59-$0.50] and rise to at least $0.76(+30%)(First Target) and then attack the Resistance zone($1.10-$0.84)(Second Target(+60%)).
Do you think the MANTRA(OM) project can return to its good days?
Note: If the MANTRA(OM) falls below $0.500(Round Number), we can expect further declines.
Please respect each other's ideas and express them politely if you agree or disagree.
MANTRA Analyze (OMUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
What is MANTRA(OM)?
MANTRA (OM) is a DeFi + RWA (Real World Assets) focused project aiming to bring real-world assets like real estate and bonds on-chain. Built with the Cosmos SDK, it’s developing a purpose-built layer-1 chain to facilitate tokenization and institutional adoption of RWAs.
The main crash reasons:
Massive forced liquidations on exchanges
90% of the token supply reportedly held in a single wallet
Rumors of a rug pull (which the team denied)
Team Response:
MANTRA’s team has launched an internal investigation
Plans for buybacks and token burns are underway
They reassured the community that team tokens remain locked and untouched
-----------------------------------
Technical Analysis:
Now let's take a look at the MANTRA(OM) chart on the 1-hour timeframe.
After the fall on April 13, MANTRA(OM) reacted to the Heavy Support zone($0.45-$0.20) and started to rise again (upward correction).
From the perspective of Elliott Wave theory, MANTRA(OM)'s big fall can be considered as a main wave 3, and it seems that MANTRA(OM) is completing a main wave 4. The main wave 4 could be a Double Three Correction(WXY). Since the momentum of the main wave 3 was high, there is a possibility that main wave 5 will be a Truncated type.
I expect MANTRA(OM) to start rising from the Potential Reversal Zone(PRZ)[$0.59-$0.50] and rise to at least $0.76(+30%)(First Target) and then attack the Resistance zone($1.10-$0.84)(Second Target(+60%)).
Do you think the MANTRA(OM) project can return to its good days?
Note: If the MANTRA(OM) falls below $0.500(Round Number), we can expect further declines.
Please respect each other's ideas and express them politely if you agree or disagree.
MANTRA Analyze (OMUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
액티브 트레이드
Position was activated near the Potential Reversal Zone(PRZ)[$0.59-$0.50].
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🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.