MANTRA Surges 100% After Dubai VASP License

MANTRA (OM), a decentralized finance (DeFi) platform, has seen a remarkable surge of 100% this month, with its price currently trading at $8.58 and a 24-hour trading volume of $609.6 million. This impressive performance comes on the heels of MANTRA obtaining a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This regulatory approval allows MANTRA to operate as a Virtual Asset Exchange and provide Broker-Dealer, Management, and Investment Services.

This strategic move into Dubai, a global hub for digital asset innovation, strengthens MANTRA’s position as a compliant player in the DeFi space. The license enhances MANTRA’s credibility and investor confidence, setting the stage for its continued growth in the Middle East and beyond. As digital finance grows, regulatory compliance is becoming increasingly crucial for investor trust and market adoption. This license not only bolsters MANTRA’s legal standing but also positions it for future success.

Technical analysis suggests that MANTRA is attempting to break above the crucial resistance level at $9.59. A successful breakout could trigger further bullish momentum, pushing the price towards $10.07 and $10.84. However, failure to clear this resistance level may result in a pullback to the immediate support at $8.43. The ascending channel pattern indicates a bullish continuation as long as prices remain above the $8.43 pivot point. Additionally, the 50-Day Exponential Moving Average (EMA) at $7.45 is acting as dynamic support, reinforcing the bullish sentiment.

Key resistance levels to watch include $9.59, $10.07, and $10.84, while key support levels are $8.43, $7.77, and $7.13. The bullish trend remains intact above $8.43, supported by the ascending channel pattern. However, a break below this level could trigger a bearish reversal, testing support at $7.77 or even $7.13.

With a market cap of $8.35 billion and increasing trading volume, MANTRA is gaining traction among investors. The Dubai VASP license and RWAccelerator launch are key drivers fueling bullish sentiment