-
OM is a Cryptocurrency focused on the real-world asset tokenization industry.
-
There are mostly bullish expectations in the medium and long term, for OM.
Mantra (OM), a cryptocurrency that has marked a milestone in the market during 2024, continues to surprise analysts and traders with its extraordinary performance.
With its focus on tokenization of real world assets (RWA) This cryptocurrency has climbed positions rapidly, becoming one of the great revelations of the year. But what can we expect from Mantra in the coming months?
2024 has been an exceptional year for Mantra. In the last 12 months, OM price has seen an increase of more than 16,000%. At the beginning of this year, its price was just $0.04 per unit.
However, so far this year, the price has been rising rapidly, reaching $3.51 today. It should be noted that OM reached its all-time high of $4.47 on November 18.
Between November 13 and 21, OM’s market capitalization doubled, going from $1.3 billion to $3.8 billion.which represents an increase of 111% in just over a week.
Mantra (OM) Price. Source: TradingView.
This growth has allowed Mantra to rise to 37th place among the cryptocurrencies by market capitalization, according to CoinMarketCap data.
The push for strategic alliances
Beyond a widespread bull market driven by Bitcoin (BTC), which has reached new all-time highs ($98,000), OM has made strategic decisions that have favored its rise.
One of the most notable has been the alliance with Googlesealed at the end of October, which positions the technology company as the primary validator and infrastructure provider for the Mantra network.
According to the Mantra team, “the integration of Google Cloud services ensures that we maintain an efficient, reliable and secure Blockchain infrastructure.”
This agreement with Google also extends to the recently launched Google Cloud Web3 portal, where a testnet faucet will be created for Mantra, making it easier for developers to access free OM tokens to work in the ecosystem.
This collaboration sets a new standard for the growing real-world assets (RWA) industry, driving innovation and adoption in the space.
Forecasts: What does the future hold for OM?
Although Mantra continues to enjoy great momentum, analysts are divided over its short- and long-term future.
The trader whose pseudonym on the X network is Altcoin Sherpa, for example, consider that OM is experiencing exceptional performance, but suggests it could be healthy for the cryptocurrency to pause and consolidate within a price range between 2.50 and 2.90 dollarsas seen in the following graph.
Mantra price analysis. Source: Altcoin Sherpa.
On the other hand, Tom Crown, an analyst with a long-term bullish outlook, believes that the positive trend will continue.
According to their analysis, based on the Fibonacci theory, OM would maintain its upward trajectory. crown suggests OM price could reach $10 in the futurehighlighting that this level represents an important psychological barrier for traders, as seen in the following graph.
Mantra price analysis. Source: Tom Crown.
A psychological barrier is a specific price level that, due to psychological and emotional factors, exerts a significant influence on the behavior of traders. These levels can act as resistance or support points, where the price tends to stop or change direction.
Despite the strong rise of OM, the trader known as TraderAAG on the X network, anticipates a possible correction downside, which could lead the price to touch a diagonal trend line.
According to this analyst, the local support level is at $2.75which could become a buying opportunity, as reflected in the following graph.
Mantra price analysis. Source: TraderAAG.
Short and long term perspectives
According to the Coinpedia portal, OM price could reach $4.51 by the end of Novemberwith a price range that could vary between $3.85 and $5.42.
By 2025, with growing global adoption of RWA assets and a more mature cryptocurrency market, Coinpedia Binance.com/en/square/post/16489055633593″ target=”_blank” rel=”noreferrer noopener”>forecast that OM could reach a maximum price of $21.37.
Despite the strong rise, the market remains highly volatile. Although a deep correction seems unlikely, a significant drop in bitcoin could impact the altcoin market, including OM.
OM has proven to be one of the most promising cryptocurrencies of 2024. Its focus on the tokenization of real assets and its strategic alliances, such as the recent one with Google, have positioned this cryptocurrency as one of the most innovative in its sector.
Although analysts have mixed opinions on its immediate future, OM’s upward trend, driven by adoption of its network and active community, suggests it could continue to surprise in the near future.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
