After a significant crash in MANTRA’s price, OM currently trades at $0.618, up 3.71% today. Many investors are wondering if there is a chance of a 50% rebound after the recent crash. The price outlook for OM is unique compared to other altcoins due to the reason for its crash, which many attribute to insider dumping. Despite this, investors are curious about what to expect as the dust settles after a brutal selloff.
The weekly chart shows that the OM price drop ended as it hit the weekly buy-side imbalance, extending from $0.380 to $0.540. If this key zone holds, investors can expect a bullish reversal. In such a case, the midpoint of the 94% crash is $1.594, meaning a 328% rally would be needed for the OM price to reach it. Although this target might seem unreachable and the bullish MANTRA price prediction unlikely, it is essential to note that the altcoin has already bounced 65% from the bottom.
Looking at the daily chart, oversold RSI and steep red histograms reflect the recent selloff. More time is needed to see if there is a possibility of a 328% rally to $1.594. One potential catalyst that could turn this bullish reversal dream into reality is an official announcement of why the MANTRA price crashed and any fixes or steps from the project to make investors whole or prevent similar incidents in the future. These actions from the OM team could help rebuild trust and potentially lead to a rally that results in a MANTRA price recovery rally to $1.594.
The OM team has already announced that the event occurred during “low liquidity hours on Sunday” and was the result of team members. They have made it clear that the dislocation was not caused by the team, MANTRA Chain Association, core advisors, or investors selling tokens. Tokenomics remain intact, and the token wallet addresses are online and visible. In conclusion, the OM price action requires a few more days to develop before a clear technical analysis or price prediction can be made. Updates from the team could also help boost the price of MANTRA higher.
In regard to frequently asked questions, it is possible for the OM price to experience a 328% rally to $1.594 if the weekly buy-side imbalance zone holds. The crash was attributed to insiders dumping tokens, although the team claims it was an incident during “low liquidity hours.” An official announcement explaining the crash and steps to prevent similar incidents could help rebuild trust and lead to a potential rally. Akash Girimath, a Senior Cryptocurrency Analyst, provides data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. His analyses blend macroeconomic trends with real-world trading expertise, reaching 500k+ monthly readers across global crypto publications.
