Key Levels to Watch for as Mantra (OM) Price Retraces – Here’s the Outlook

Top analyst Batman, with over 81,000 followers, shared his thoughts about Mantra price movements on X (formerly Twitter).

Top crypto analyst Batman, who has over 81,000 followers on X (formerly Twitter), recently shared his thoughts on the price movements of Mantra (OM).

According to Batman, OM appears to be heading towards an unfilled bullish fair value gap, which also coincides with the golden Fibonacci 0.618 level. This development comes as OM's price maintains resilience while other cryptocurrencies face downward pressure, making this a critical zone to watch for.

Let's take a closer look at Batman's analysis and see what we can expect next for OM's price.

Mantra Chart Analysis: Price Retraces Toward Bullish Fair Value Gap

A glance at the OM chart reveals a retracement following a remarkable upward trend. The retracement targets an unfilled bullish fair value gap, which is highlighted on the chart as a blue zone.

This area holds significance as it represents a price inefficiency where demand could surpass supply, creating a potential support zone for the asset.

Further bolstering the case for this zone is its alignment with the 0.618 Fibonacci retracement level, which is also known as the “Golden Ratio.” This level is widely recognized in technical analysis as a potential turning point during corrections in an ongoing uptrend.

Additionally, the chart shows that OM's price broke below a previously ascending trendline connecting recent swing lows. This break suggests a temporary pullback in the price, which aligns with the ongoing retracement.

However, equal highs on the chart (labeled as “SSS”) hint that liquidity was likely targeted before the pullback began.

Despite the short-term weakness, the highlighted support zone between $3.75 and $3.85 remains a key area where the price could stabilize and potentially rebound.

Analyst's Perspective on Market Context

As Batman points out in his analysis, OM has shown relative strength during a period when many other crypto assets have faced sharp declines.

The broader market has seen a sell-off in recent days, which has led to lower highs and lower lows on the total cryptocurrency market cap chart. However, OM's price has managed to hold up relatively well in comparison to the rest of the market.

This observation could be significant, especially if the broader market recovers from its corrective phase. In such a scenario, assets that have shown resilience during the downturn may be poised for stronger rallies.

Convergence of Value Disparity Zone and Fibonacci Support Level

The unfilled bullish fair value gap in the $3.75–$3.85 range also coincides with the golden Fibonacci 0.618 level, creating a significant technical intersection.

This confluence of a positive value disparity zone and a Fibonacci-derived support level could attract attention in the market.

As the price approaches this zone, traders and investors may be observing the price action closely for any signs of a potential upward price restoration.

What's Next for OM's Price?

The analysis suggests that the $3.75–$3.85 range offers a high-probability support zone. If the price reacts positively at this level, it could resume its uptrend. However, a failure to hold this area may lead to further downside.

As Mantra's price continues to navigate this retracement, its resilience compared to the broader market could make it a key asset to monitor in the coming days.

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