![MANTRA [OM] price prediction – Traders, watch out for these retracement levels!](https://i.headtopics.com/images/2024/11/16/cryptoamb/mantra-om-price-prediction-traders-watch-out-for-t-mantra-om-price-prediction-traders-watch-out-for-t-9105D83AB1016C7660474DFD9A20D90F.webp)
MANTRA has been on a long-term uptrend with some pauses for consolidation, and now the $2 billion market cap asset is targeting...
form a range before it continued the uptrend. It differed from most of the other assets, which had been trending south or sideways since March.
On 14 November, OM broke out past the local highs at $1.62. Since then, it has rallied by 48% on the charts. The swift gains left little time for support levels to be established. Will MANTRA set new highs soon?OM gained by 50% in the last 24 hours and set new all-time highs beyond $1.6. The Fibonacci extension levels outlined $2.41 and $3.19 as the targets to the north. At press time, MANTRA had already moved beyond $2.41, but it could face a retracement in the coming days.
Since it is a bull market and sentiment seemed to be enthusiastically bullish, the chances of a deep retracement may be low. AOn the 1-week look-back liquidation heatmap, we can see that the $2.14 region has a cluster of liquidity that could drag prices to it. Since the token has been in a price discovery mode, the liquidity levels didn’t seem to be as dense as the long-term ones.The 24-hour chart also highlighted $2.14 and $1.94 as short-term support zones which MANTRA can rebound from. The highs around $2.7 also saw a build-up of short liquidation levels.
It is unclear whether OM would retrace, and how deep or long this drop can take it. The $2.14 and the $2 psychological level would be attractive for buyers.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017.
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