Mantra Price Chart Pattern Points to a Strong Breakout Soon: Analysis and Predictions
The recent price action of Mantra (OM) has been nothing short of spectacular, with a remarkable 10,758% surge in value this year. However, the coin has entered a local bear market, with a 30% drop from its all-time high, trading at $3.54 and bringing its market cap to over $3.28 billion. Despite this decline, the technicals suggest that Mantra price is ripe for a strong bullish breakout in the next few days.
Historical Performance and Market Cap
Mantra’s market cap has grown significantly this year, making it the 45th biggest cryptocurrency in the industry. Its recent decline pales in comparison to its strong performance this year, which has seen it jump by 10,758%. This surge is due in part to the developers’ aim to disrupt the Real World Asset tokenization industry, which has a multi-trillion dollar potential.
Yield and Market Comparison
Mantra has become one of the best cryptocurrencies for yield-focused investors, with a yield of about 30%. This is significantly higher than other popular cryptocurrencies like Ethereum (ETH) and Solana (SOL), as well as US government bonds and popular dividend ETFs. For example, a $1,000 investment in the coin will bring in about $300 a year, all factors constant.
Tokenization Industry and Mantra Chain
The developers of Mantra are aiming to disrupt the Real World Asset tokenization industry, which has a multi-trillion dollar potential. They recently launched Mantra Chain, a layer-1 network made specifically for the tokenization industry. Analysts believe that the RWA tokenization sector could be a game changer in the crypto industry, with tokenized funds by companies like Blackrock and Franklin Templeton achieving almost $1 billion in assets.
Technical Analysis
The technicals suggest that Mantra price is on the cusp of a strong bullish breakout in the next few days. On the daily chart, the coin formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages crossed above each other. Mantra coin has remained above these averages, indicating a strong uptrend. Additionally, it has formed a bullish flag chart pattern, which is made up of a vertical line and a consolidation pattern. Most notably, it has formed a falling wedge pattern, a popular bullish reversal pattern.
Falling Wedge Pattern and Breakout Prediction
A falling wedge is a pattern made up of two falling and converging trendlines. With the wedge nearing its confluence pattern, there are signs that the Mantra price will have a strong bullish breakout. If this happens, the next point to watch will be at $4.5150, its highest point last month, which is about 28% above the current level. A drop below the support at $3 will point to more downside.
Predictions and Actionable Insights
Based on the technical analysis and historical performance, we predict that Mantra price will have a strong bullish breakout in the next few days. The next point to watch will be at $4.5150, its highest point last month, which is about 28% above the current level. To take advantage of this potential breakout, investors can consider the following:
- Buy on dips: Investors can consider buying Mantra on dips, such as if the price falls below the support at $3.
- Long-term investment: With a yield of about 30%, Mantra is an attractive option for long-term investors looking for a high-yielding cryptocurrency.
- Diversification: Investors can consider diversifying their portfolio by adding Mantra to their existing cryptocurrency holdings.
Overall, Mantra’s strong technicals and historical performance make it an attractive option for investors looking to capitalize on a potential bullish breakout.
