Mantra (OM) Price Set to Explode as Liquidity Grab Hints at Massive Bull Run

The price of Mantra is moving in interesting patterns and showing sharp increases, which has caught traders’ eyes. Prominent analyst Nihilus points to a

Prominent crypto analyst Nihilus has shared an intriguing analysis on the price movements of OM, hinting at a potential breakout in the near future. The analysis, which is based on the OM/USDT perpetual contract, suggests that a liquidity sweep may have occurred, setting the stage for a sharp price increase.

The analysis highlights a recent dip in the OM price below a strong support level at $3.39. This move triggered stop-loss orders and cleared liquidity in the lower range, which is typically used by short-sellers to open or add to their positions.

As the price sweeps below this support level, it creates a natural sell-off, absorbing sell orders and positioning the price for a potential move higher. This liquidity sweep is often used by market makers to clear weaker hands and consolidate buying power.

A crucial resistance line, labeled “trend liquidity,” is also visible on the chart. This line, which slopes downward, marks an area where short positions may have accumulated. A breakout above this line could spark aggressive upward momentum.

The chart projects potential targets in the event of a breakout. The first target is situated around $4.00, followed by a higher zone ranging from $4.40 to $4.60. These targets could come into play if the price breaks out above the trend line and sustains momentum in that direction.

Throughout the analysis, the $3.39 level has shown remarkable strength, acting as a pivotal support zone for OM. Despite several attempts to push the price below this level, strong buying interest has emerged, preventing further declines.

This support has served as a launchpad for potential upward moves, evident in the price rebounds after testing the area. The chart analysis also marks this support level as the starting point of the liquidity sweep, setting the stage for a price test of the descending trend line.

A bullish technical signal is emerging in OM's price movement, hinting at a potential shift from the recent bearish structure. If the price manages to break out above the $3.80 mark, it could invalidate the bearish setup and pave the way for an upward trend.

This breakout analysis could help traders identify potential trade setups based on the chart. A breakout above $3.80 may open the path to $4.00 and beyond, targeting subsequent levels at $4.40-$4.60.

However, it's important to note that a move below $3.39 would invalidate the bullish setup and signal a potential continuation of the downward price pressure, which has been evident in recent OM price movements.

This evolving setup makes OM a cryptocurrency to watch in the coming days, as the market anticipates confirmation of the anticipated breakout.