Mantra (OM) Surges 10% to Second-Largest RWA Token
1min read Mantra (OM) has surged by more than 10% over the past week, securing its position as the second-largest Real World Asset (RWA) token by market capitalization. With a market cap of approximately $6.8 billion, OM is gaining significant traction and attracting attention within the RWA space.
Technical indicators for OM are showing mixed signals. The Relative Strength Index (RSI) has cooled off from overbought levels, currently standing at 57.89, which indicates moderate bullish momentum. The RSI briefly reached 72.51, signaling that OM approached overbought territory before pulling back slightly. This sustained move above 50 suggests that OM has been in a bullish phase, with momentum favoring buyers over the past several days.
On the Ichimoku Cloud chart, OM is displaying a bullish structure. The price is trading above the cloud, indicating that the overall trend remains bullish. Additionally, the cloud ahead has flipped green, suggesting that if this structure holds, future momentum could continue to favor buyers. The Tenkan-sen is positioned above the Kijun-sen, reinforcing short-term bullish momentum, although the price recently pulled back after some upward movement. The Chikou Span is also above the price action and the cloud, supporting the bullish outlook. However, if the price starts to consolidate or dip toward the Tenkan-sen and Kijun-sen, it could signal a potential pause in momentum or a shift toward a more neutral trend if those levels fail to provide support.
OM’s Exponential Moving Average (EMA) lines are signaling that a golden cross could soon form, which would strengthen the bullish outlook. If this pattern is confirmed and OM can regain the strong uptrend seen in past months, it could break through resistance levels at $7.39 and $8.16. A breakout above these areas could allow OM to test price levels above $9 for the first time ever, potentially setting new all-time highs and possibly making OM surpass Chainlink as the biggest RWA coin in market cap. On the other hand, if the current bullish momentum fades, OM could decline toward support at $6.57. A loss of this level could trigger further downside toward $6.15, and if bearish pressure persists, the price could fall as low as $5.85.
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