CandleFocus

Mantra (OM) Price Tests Crucial Support As Bears Take Control

Author: Content Editor
The price of the Mantra (OM) cryptocurrency is currently facing a critical technical phase, with multiple indicators suggesting potential bearish pressure. The token has declined 13% in the past week and is down 21% from its all-time high in November. The Relative Strength Index (RSI) is in neutral territory, indicating a lack of decisive control from buyers or sellers. The Ichimoku Cloud chart shows a bearish trend developing, with the price trading below the cloud and key lines. There is also the potential for a death cross formation, which could accelerate the downward movement. Traders may be waiting for stronger signals before making significant moves, but attention should be given to potential downside risks. If the death cross forms, the price could face increased selling pressure, while regaining bullish momentum could target higher resistance levels.

Related News