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The Mantra price has surged 9% in the last 24 hours to trade at $0.9967 as of 7.30 a.m. EST on a 95% pump in trading volume to $21 million.
The Mantra Price Faces Resistance: Can The Bulls Continue The Momentum?
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.
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.”
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.
OMUSD Analysis Source: Dextools.io
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.
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.
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.
However, traders should be cautious as the buying pressure might ease up when the RSI reaches the 70 overbought zone.
Mantra Price Prediction
The current consolidation near $0.9967, just below the psychological $1.00 mark, suggests that the market is at a critical juncture.
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.
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.
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.
This would allow the market to cool off and reset before possibly making another attempt at higher levels.
Crypto All-Stars Presale Rockets Toward $1 Million: Best Meme Coin To Buy Now?
As the Mantra price surges, the Crypto All-Stars (STARS) 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.
Crypto All-Stars is making headlines as the world’s first MemeVault Ecosystem, uniting top meme coins on a single platform. This innovative project is the first of its kind, offering multi-meme coin staking across different blockchains through a unified staking protocol.
At the core of Crypto All-Stars is MemeVault, a revolutionary staking platform where meme coin holders can stake their assets to earn $STARS tokens, creating a collaborative and rewarding environment.
AI Sentiment Analysis report!
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The platform currently supports popular meme coins like Dogecoin, Pepe Coin, Shiba Inu, Floki Inu, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk, with more meme coins to be added in the coming months.
If you are interested you can buy and stake $STARS, which offers an annual percentage yield (APY) of 1,536%.
$STARS is currently selling for $0.0014191, but with a price increase coming in less than 19 hours, buy now to get the best deal.
Buy $STARS from its official website here using BNB, USDT, or a bank card.
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