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2024 saw OM [Mantra] outperform the rest, will 2025 be any different?
As we close the curtains on a remarkable year in the cryptocurrency market, it is essential to acknowledge one altcoin that has stood out from the crowd – OM. The Mantra has defied all odds and expectations by surging by an astonishing 8354.87% in just 12 months. This incredible performance has left many questions unanswered – can this growth be sustained? What lies ahead for OM?
To put OM’s meteoric rise into perspective, it is essential to delve into the altcoin’s remarkable journey throughout 2024. The cryptocurrency started the year at a humble $0.043 and has since grown exponentially, culminating in an all-time high of $4.6 two weeks ago. Although there was a slight pullback, OM still managed to close the year with a remarkable growth of 8354.87%. This surge is nothing short of incredible, eclipsing even the most optimistic predictions.
But as we gaze into the crystal ball and ponder what the future holds for OM, it becomes increasingly difficult to ignore the warning signs emanating from market indicators. According to our analysis, Mantra’s market may be overheated, which could potentially lead to a correction in the short term. Market data suggests that OM’s valuation is currently above its realized value, indicating that the price may decline before markets can enter a healthy state.
Furthermore, we have observed two bearish crossovers – one on the Stochastic Relative Index (Stoch RSI) and another on the Relative Vigor Index (RVGI). This dual bearish crossover serves as an ominous signal that upward momentum has weakened, hinting at the possibility of a price decline in the coming weeks. If this trend persists, OM could potentially drop to $3.4.
However, it is crucial not to jump the gun just yet. The yearly trend remains intact, and if maintained, OM may reclaim the $4 resistance mark. Nevertheless, the onus rests on market participants to closely monitor the situation and be prepared for any eventuality that may arise.
Ultimately, the question remains: can OM continue its remarkable growth into 2025? Only time will tell, but it is imperative that investors take heed of these warning signs and exercise caution when navigating this new year.
Source: ambcrypto.com
