The price of MANTRA ($OM) has risen back above $6.3 after dropping to $5.8 on Tuesday.

This occurred just before the unlocking of $1.67 million worth of MANTRA tokens scheduled for today, March 11.

The price of MANTRA ($OM) has risen back above $6.3 after dropping to $5.8 on Tuesday. This occurred just before the unlocking of $1.67 million worth of MANTRA tokens, which is scheduled for today, March 11.

Over the past seven days, the leading RWA coin lost 9.80% but gained back 1.22% in the last 24 hours, trading at $6.25 at the time of writing. This mixed performance has drawn the interest of crypto analysts, many of whom expect the coin to continue rising in the near term.

Mantra ($OM) Flashes Buy Signal

A well-known crypto analyst, known on X as Ali, pointed out a key technical signal on the daily chart of Mantra ($OM).

According to his latest post, the TD Sequential indicator has just flashed a buy signal, suggesting that $OM might have hit a local bottom after its recent downturn. The indicator, which previously called the top accurately, now hints at a potential price reversal.

The TD Sequential is a widely-used tool in technical analysis that helps identify trend exhaustion and potential reversal points. A “9” buy setup, like the one seen on $OM’s chart, often indicates waning selling pressure, suggesting that a price rebound could be on the horizon.

After the pre-unlock dip in the MANTRA price, crypto analyst King Crypto said that the drop was deeper than anticipated. Still, it provided an opportunity for investors to accumulate more tokens at a discount.

Such price swings are common in anticipation of token unlocks, with traders adjusting positions based on expected supply increases.

The analyst stated that the bounce back to $6.3 was fueled by narratives around real-world assets (RWA) and support from MANTRA proponents, illustrating renewed confidence in the project.

Market Sentiment Remains Positive

Despite the volatility, sentiment around $OM remains optimistic. Investors who capitalized on the recent dip are placing bets on further upside, and analysts believe that a bounce from this level would be a strong indicator of continued bullish momentum.

If $OM manages to sustain its current level, its upward trend may continue. A breakout above critical resistance levels, starting at $6.50 and $7.00, could attract more traders seeking further gains.

However, if the price fails to sustain its recovery and drops below support, a retest of lower levels could occur, with further downside possible if price action remains weak.