Mantra price chart pattern points to a strong breakout soon

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As a seasoned analyst with years of experience navigating the volatile crypto market, I have seen my fair share of price swings and trends. The recent decline of Mantra (OM) might seem alarming to some, but it’s important to consider the bigger picture.

Over the past few days, the value of Mantra has dropped significantly, leading it into a temporary downturn or “local bear market.” This decline represents a fall of approximately 30% from its record highest price.

The Mantra Token (OM) was priced at approximately $3.54, which gave it a total market value exceeding 3.28 billion dollars. This digital currency now ranks as the 45th largest cryptocurrency within its sector.

Compared to its impressive growth this year, Mantra’s current dip appears insignificant, with a staggering rise of over 10,758%.

Additionally, it has emerged as a top choice for income-oriented cryptocurrency investors, thanks to its high yields. As reported by StakingRewards, it boasts an impressive return rate of approximately 30%, placing it among the highest yielding cryptocurrencies in the market.

A 30% return on investment indicates that you’d receive approximately $300 annually if you invest $1,000 in this cryptocurrency, assuming all other factors remain unchanged. This yield surpasses the returns offered by well-known cryptocurrencies such as Ethereum (ETH) and Solana (SOL). Furthermore, it significantly outperforms the yields provided by US government bonds and popular dividend exchange-traded funds (ETFs).

The growing popularity of Mantra is due to the developers’ ambition to revolutionize the Real-World Asset tokenization sector, an industry with a massive, trillion-dollar potential. Lately, they have unveiled Mantra Chain, a custom-built layer-1 network tailored for the tokenization industry.

Experts posit that the Real World Asset (RWA) tokenization field might revolutionize the cryptocurrency market. Notably, tokenized funds from corporations such as Blackrock and Franklin Templeton have amassed nearly $1 billion in assets.

As a forward-thinking analyst, I’m excited about the prospect that, according to Statista, approximately $30 trillion in assets could be tokenized by the year 2030. It’s my belief that Mantra could potentially be the blockchain platform chosen for this transformative process.

Mantra price could be ripe for a strong breakout

As a crypto investor, I’m excited about the potential for a significant bullish breakthrough with OM price in the upcoming days. On my daily chart, the coin has formed a golden cross pattern – a promising sign as the 50-day and 200-day Exponential Moving Averages have crossed paths, hinting at an upward trend.

The Mantra coin consistently hovers above its average levels, showing strength. Moreover, it exhibits a bullish flag formation, characterized by a straight line and a period of consolidation. Of particular interest is the emerging falling wedge pattern, widely recognized as a bullish reversal signal.

Analyzing a falling wedge involves identifying two lines that slope downwards and gradually converge. As this pattern approaches where these lines meet, it suggests a potential strong upward surge for the Mantra price, indicating a bullish breakthrough could be imminent.

Should this occur, a significant landmark to observe could be approximately $4.5150 – the highest it reached last month, which represents an increase of roughly 28% over the present position. If we were to slip beneath the support at $3, however, it might signal further falls.

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2024-12-02 17:55