After a -90% Dump, MANTRA(OM) Finds Support!!!

Apr 17

Today, I want to analyze the MANTRA(OMUSDT) project for you, which fell by more than -90% on April 13.

What is MANTRA(OM)?

MANTRA (OM) is a DeFi + RWA (Real World Assets) focused project aiming to bring real-world assets like real estate and bonds on-chain. Built with the Cosmos SDK, it’s developing a purpose-built layer-1 chain to facilitate tokenization and institutional adoption of RWAs.

The main crash reasons:

Massive forced liquidations on exchanges

90% of the token supply reportedly held in a single wallet

Rumors of a rug pull (which the team denied)

Team Response:

MANTRA’s team has launched an internal investigation

Plans for buybacks and token burns are underway

They reassured the community that team tokens remain locked and untouched
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Technical Analysis:

Now let's take a look at the MANTRA(OM) chart on the 1-hour timeframe.

After the fall on April 13, MANTRA(OM) reacted to the Heavy Support zone($0.45-$0.20) and started to rise again (upward correction).

From the perspective of Elliott Wave theory, MANTRA(OM)'s big fall can be considered as a main wave 3, and it seems that MANTRA(OM) is completing a main wave 4. The main wave 4 could be a Double Three Correction(WXY). Since the momentum of the main wave 3 was high, there is a possibility that main wave 5 will be a Truncated type.

I expect MANTRA(OM) to start rising from the Potential Reversal Zone(PRZ)[$0.59-$0.50] and rise to at least $0.76(+30%)(First Target) and then attack the Resistance zone($1.10-$0.84)(Second Target(+60%)).

Do you think the MANTRA(OM) project can return to its good days?

Note: If the MANTRA(OM) falls below $0.500(Round Number), we can expect further declines.

Please respect each other's ideas and express them politely if you agree or disagree.

MANTRA Analyze (OMUSDT), 1-hour time frame.

Be sure to follow the updated ideas.

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Apr 18

Trade active

Position was activated near the Potential Reversal Zone(PRZ)[$0.59-$0.50].