"Mantra Surges 103% in 30 Days, Whales Accumulate Ahead of Potential ATH"

Mantra, a cryptocurrency, has experienced a remarkable surge in its price over the past 30 days, with a 103.37% increase. This significant growth has sparked speculation about the possibility of the altcoin hitting another all-time high (ATH).

Despite a recent retracement from its new ATH of $7.9, Mantra's upward momentum remains strong. As of this writing, the altcoin was trading at $7.65, having risen by 6.29% over the past 24 hours. Additionally, Mantra has surged by 30.07% on weekly charts and a staggering 103.37% over the past month.

The strong upward momentum and bullish sentiment among whales and retailers have raised questions about the sustainability of the uptrend. According to AMBCrypto's analysis, Mantra has held a strong uptrend as whales have started going big on the altcoin. Whale activities have experienced a sudden spike over the past day, rising by 407%.

When whale activity rises, it implies that big players are confident with the market's direction and expect prices to rise further. While rising whale activity can either be selling or buying, the spike in exchange outflow implies that whales are accumulating. As such, Mantra's spot netflow has turned negative over the past day for the first time in 5 days, with OM's netflow dropping to -1.32 million, signaling high exchange outflow.

With outflows outweighing inflows, it suggests that investors are optimistic and are acquiring the altcoin before prices go further. This buying activity in the market is evidenced by the fact that OM's Relative strength index (RSI) has continued to rise. Despite the RSI rising to settle at 73 at press time, it was yet to reach overbought conditions, and Mantra has some more room for growth before a correction emerges.

Finally, the market confidence observed above is even more prevalent among large holders. As such, Mantra's MVRV long/short difference has risen from 117% to 131% over the past week. This implies that not only are profit margins for LTHs rising, but also their market confidence.

With OM experiencing strong bullish sentiment, the altcoin is testing a