Mantra (OM) price prediction as Upbit listing causes market frenzy

Mantra (OM) cryptocurrency has seen an 11.3% surge following Upbit’s official announcement that OM trading will commence on May 21 at 15:00 Korea Standard Time (KST). This explosive move comes on the heels of a turbulent period for the digital asset, which suffered a brutal crash in April that erased more than $5.5 billion in market capitalisation. Despite the recent slump, investor interest has dramatically returned, with OM’s 24-hour trading volume skyrocketing by over 694%, reaching approximately $537.6 million. OM’s market cap has also rebounded to over $413 million, marking a notable recovery as confidence begins to rebuild in the wake of the token’s worst monthly drawdown. OM listing on Upbit The Upbit listing has become a critical catalyst, sparking renewed optimism among traders and signalling a potential turning point in OM’s short-term trajectory. This announcement has ignited a wave of market activity, lifting OM’s price by 15.7% immediately after the news broke and boosting trading volume immensely. Such immediate price appreciation reflects how sensitive altcoin markets can be to major exchange listings, especially from platforms as influential as Upbit. Notably, OM wasn’t the only beneficiary of this listing spree; coins like GO and RLY also posted gains exceeding 50%, reinforcing Upbit’s impact on price discovery across emerging tokens. For Mantra, the listing comes at a pivotal moment, just weeks after a severe liquidation event crushed OM from $6.26 to a low of $0.42. The price remained range-bound between $0.36 and $0.43 from May 1 to May 20, forming a tight consolidation band that is now being tested amid renewed buying pressure. A breakout above the $0.43 resistance level earlier today marked the start of a potential upward reversal, with OM briefly reaching a high of $0.49 as momentum returned. Adding to the bullish sentiment is MANTRA’s strategic burn of 300 million tokens , 150 million from the founder’s allocation, and 150 million coordinated with partners. This move, aimed at reducing supply and restoring trust, coincided with Nansen’s confirmation as a validator on the MANTRA Chain, further signaling institutional alignment. Mantra price prediction Following the post-listing price surge, technical indicators are beginning to flash early bullish signals, though traders remain cautiously optimistic given OM’s volatile history. The Relative Strength Index (RSI) is in oversold territory at 27.17 but on an upward trajectory, suggesting OM just started on its upward trend. At the same time, the Moving Average Convergence Divergence (MACD) has flipped positive, with the MACD line crossing above the signal line and green histogram bars persisting for weeks. Mantra price chart | Source: TradingView These bullish signals coincide with growing volume, indicating that the momentum could be sustainable if buying interest holds. If Mantra (OM) continues to build on this momentum, the next resistance zone lies between $0.60 and $0.70, where the price previously found support in early 2024. A breakout beyond that zone could open the path toward $0.85, followed by a possible retest of the $1.20 level, which historically acted as a strong consolidation area. Nevertheless, OM must sustain current volume levels and avoid slipping back into the tight trading range that defined the past few weeks. Should buying pressure wane, there is a risk that this rally could mirror the May 10 spike, which quickly faded back into consolidation. While the Upbit listing has undoubtedly reinvigorated the market, Mantra’s long-term direction will depend on continued momentum, broader sentiment, and how well the project delivers on its recovery plans. The post Mantra (OM) price prediction as Upbit listing causes market frenzy appeared first on Invezz

Source: Invezz