MANTRA (OM) price is headed for a few weeks of gains due to its upcoming mainnet launch. This highly anticipated event is expected to mark a major development for the real-world asset ( RWA )-focused blockchain.
As broader market conditions improve, bullish momentum could continue to push OM higher, potentially forming a new all-time high.
OM price is headed for a potential rally in the coming weeks as the MANTRA blockchain prepares for its mainnet launch. According to the Chia press release, the mainnet is expected to launch in October.
Their goal is to provide a comprehensive and customizable toolkit that allows developers to tailor solutions to meet their specific needs. This toolkit streamlines the process of bringing real-world assets on-chain while ensuring compliance with regulatory requirements.
In an interview, MANTRA CEO John Patrick Mullin stated that the mainnet launch will be the culmination of years of work by the team.
“By providing on-ramps for Token and stablecoins with world-class stability and reliability, we believe MANTRA Chain will be the leading global destination for businesses and industries to access onchain finance and asset Tokenize ,” said Mullin.
As this will be the beginning of a new era for MANTRA, the native Token OM is also likely to benefit from the mainnet launch. OM’s macro momentum is also bullish, which is evident in the Relative Strength Index (RSI).
The Relative Strength Index (RSI) is a momentum indicator that measures the speed and change of price movements. It helps identify overbought or oversold conditions of an asset.
Since the RWA Token is far from overbought, it is likely to continue its uptrend. This will support the bullish momentum of OM.
RSI OM | Source: TradingView
OM price is down 9.5% in the past 5 days but is currently holding above the $1.04 support level. This support level could provide a foundation for a recovery, offering the potential to rise to the All-Time-High of $1.41.
The upcoming mainnet launch is expected to be a major catalyst for OM. If the bullish momentum continues into October, the altcoin could break its current high and surpass $1.41. This would mark a potential 33% gain.
The positive sentiment surrounding the launch will play a major Vai in fueling this rally.
OM Price Analysis | Source: TradingView
However, if the bullish momentum fades, OM could fall below the $1.04 support level. In this case, it could slide to $0.95. Losing this support level would invalidate the bullish thesis, leaving investors vulnerable to losses.
You can XEM OM prices here.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should research carefully before making any decision. We are not responsible for your investment decisions.
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Minh Anh
According to News Bitcoin
