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Mantra (OM) Price Breaks Records in Strong Upward Momentum

Published

2 hours ago

November 16, 2024

Coin2049 Newsletter

Mantra (OM) price has been on a strong upward trajectory, recently reaching a new all-time high and gaining nearly 20% over the past week. This surge has been supported by strengthening technical indicators, showcasing strong momentum and a clear uptrend.

The combination of bullish EMA alignment and favorable metrics like ADX and Ichimoku Cloud suggests the rally may extend further, with the potential for new highs in the coming days. However, if the uptrend loses momentum, OM could test key support zones that will determine the sustainability of its recent gains.

OM’s Uptrend Is Getting Stronger

The ADX for OM has climbed from nearly 16 to 26.48 in just one day, highlighting a significant increase in trend strength.

An ADX above 25 typically signals a strong trend, and this surge indicates that OM is transitioning from a weak or sideways market to a clear and potentially sustained movement.

ADX, or Average Directional Index, measures trend strength on a scale from 0 to 100. Values below 20 show weak trends, while values above 25 signal strength.

With OM’s ADX at 26.48, the market is confirming an uptrend, supported by growing momentum and a stronger directional push, suggesting further gains could be on the horizon.

Ichimoku Cloud Shows OM Trend Is Bullish

The Ichimoku Cloud chart for OM price shows a bullish trend forming. The price has broken above the cloud (Kumo), which typically signals an uptrend.

Additionally, the cloud ahead (Senkou Span A and B) is green, indicating positive momentum and potential support levels. The price staying above the cloud further supports the likelihood of continued upward movement.

The Tenkan-sen (conversion line) is above the Kijun-sen (base line), another bullish signal suggesting that short-term momentum is stronger than the longer-term trend.

The lagging span (Chikou Span) is also positioned above the price, confirming that recent price action strongly supports the current trend. Together, these elements highlight a strengthening bullish sentiment for OM.

OM Price Prediction: New Highs Soon?

Mantra’s EMA lines currently exhibit a strong bullish alignment, with the price trading above all of them and shorter-term EMAs positioned above the longer-term ones. OM is one of the leading coins in the real-world assets ecosystem today and could benefit heavily if this narrative keeps growing.

This structure reflects solid upward momentum, reinforcing the notion of a sustained uptrend. The recent price action supports this bullish outlook, as OM price has managed to maintain levels well above key EMA thresholds, which often serve as dynamic support during uptrends.

Combining insights from the ADX and Ichimoku Cloud metrics, OM’s recent breakout to a new all-time high of $1.85 could signal the start of an extended rally. If the bullish momentum continues, further attempts at new highs are plausible in the coming days, as the narrative around real-world assets (RWA) recovers traction.

However, if the uptrend falters and reverses, the OM price may test its first strong support zone around $1.35. Should this level fail to hold, the price could decline further, potentially reaching as low as $1.25, a critical area of support.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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GOAT Price Reaches New High as Correction Risks Mount

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WIF Slide Below $3.582 Sparks Fears Of Further Losses

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Market

GOAT Price Reaches New High as Correction Risks Mount

Published

1 hour ago

November 16, 2024

Coin2049 Newsletter

Goatseus Maximus (GOAT) price recently reached a new all-time high. The recent price action has been accompanied by strong technical indicators, suggesting an ongoing bullish trend.

However, some signs hint that this rally could be nearing its limit. As the analysis continues, the potential for both continued gains and the risk of a correction in the near future will be explored.

GOAT Current Trend Is Still Strong

GOAT’s ADX is currently at 27.63, down from above 36 last week. This drop suggests a weakening in trend strength.

When ADX was above 36, it indicated a strong trend. Now, with ADX below 30, the trend is still present but less powerful.

The Average Directional Index (ADX) measures trend strength. It ranges from 0 to 100, with values above 25 indicating a strong trend and below 20 suggesting no significant trend.

GOAT ADX of 27.63 shows that it remains in an uptrend, though the momentum is not as strong as before. The uptrend persists, but it may not be as forceful as it was last week.

GOAT Is Close To The Overbought Zone

GOAT’s RSI is currently at 67.63, following a recent price jump and a new all-time high. It has risen sharply from 50 in just a few hours. This swift increase suggests strong buying momentum, pushing GOAT closer to overbought levels.

The Relative Strength Index (RSI) measures the speed and change of price movements. It ranges from 0 to 100, with values above 70 indicating overbought conditions and below 30 suggesting oversold conditions. With GOAT’s RSI nearing 70, it signals that the asset might be overextended.

The recent price surge and all-time high, coupled with the RSI’s current level, suggest that GOAT could face a strong correction soon. That would take GOAT off the top 10 biggest meme coins by market cap.

GOAT Price Prediction: Is a 39% Correction Imminent?

GOAT recently reached its all-time high, and its EMA lines are very bullish.

The price is above all EMA lines, with short-term lines positioned above long-term ones. This alignment suggests strong upward momentum, confirming a healthy uptrend.

GOAT Price Analysis. Source: TradingView

However, the RSI indicates that the meme coin could be entering overbought territory, hinting at a potential correction. The closest support zone for GOAT price is around $0.76.

If this level fails to hold, the price could drop to $0.69, suggesting a possible 39% correction. This highlights the risk of a pullback after such a strong rally.

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WIF Slide Below $3.582 Sparks Fears Of Further Losses

Published

3 hours ago

November 16, 2024

Coin2049 Newsletter

WIF latest dip below the crucial $3.582 support has triggered concerns across the market, as bearish sentiment appears to be gathering strength. Its break below this key level could pave the way for even greater losses, leaving traders to question whether the bulls can stage a comeback or if further declines are inevitable.

As downside risks grow, this analysis aims to examine WIF’s recent drop below the critical $3.582 support level and explore the potential implications of this bearish shift for future price movement. By assessing current market sentiment, key technical indicators, and possible support zones, we seek to determine whether WIF is positioned for more losses or if a reversal may be on the horizon.

Examining WIF’s Drop Below The Critical $3.582 Support Level

On the 4-hour chart, WIF has recently broken below the $3.582 level, triggering bearish momentum as the price moves toward the $2.896 support range and the 100-day Simple Moving Average (SMA). As the bearish trend develops, the market is closely watching for any signs of stabilization or a deeper slide toward key support zones.

The 4-hour Relative Strength Index (RSI) has dropped from the overbought zone to 53%, signaling a reduction in upward momentum. This move toward neutral territory suggests that buying pressure may be waning, and market participants will be looking for indications of continued decline or a potential shift in momentum.

On the daily chart, WIF is showing strong negative strength, highlighted by a bearish candlestick pattern that has pushed the price below the critical $3.582 support. This pattern indicates that sellers are firmly in control of the market, relentlessly driving the price lower, prompting a strong likelihood of further drops in the near term.

An analysis of the 1-day RSI suggests WIF may face extended losses as it has dropped from a high of 80% to 64%, indicating a reduction in buying pressure. Typically, this decline points to a possible weakness of bullish momentum, with more downward pressure likely if the RSI continues to wane.

Potential Support Zones To Watch If WIF Continues To Drop

If WIF continues to drop, key support zones to watch out for include the $2.896 level, which has previously acted as a critical point for price stabilization. Below this, the next support level to monitor is positioned around $2.257, where WIF may find additional buying interest. A break below these levels could open the door to further declines toward other psychological support zones.

Conversely, if WIF breaks below the $2.896 support level, it could signal the start of a bullish comeback, potentially pushing the price back above the $3.582 level and toward higher resistance points.

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Exploring Hottest New Coins: MAYA, Banana, and Jorgie

Published

4 hours ago

November 16, 2024

Coin2049 Newsletter

Since their recent launches, MAYA, Banana, and Jorgie coins have quickly captured significant attention. MAYA debuted on Pumpfun four days ago and now boasts a market cap of $21.4 million and over 36,000 holders.

Banana followed closely, launching three days ago and reaching a market cap of $36.6 million with more than 14,000 holders. Jorgie, launched just two days ago, has already amassed 22,000 holders and a market cap of $14.3 million.

MAYA

MAYA made its debut on Pumpfun almost four days ago before quickly graduating to Raydium. The token has gained significant traction, currently holding a market cap of $21.4 million. In just a few days, MAYA has already attracted over 36,000 holders.

The daily transaction volume for MAYA is also impressive. The coin currently sees more than 114,000 transactions per day.

MAYA has risen nearly 40% in the last 24 hours. Despite this surge, the RSI remains at 42.44, suggesting considerable room for growth. The token’s recent price increase hasn’t yet pushed it into overbought territory, indicating potential for further upside.

Banana for Scale (Banana)

Banana is also in the Solana ecosystem, and it was also launched on Pumpfun, just three days ago. The token has gained a lot of traction, currently boasting a market cap of $36.6 million. In just a few days, Banana has managed to attract more than 14,000 holders.

Banana Price Chart and Market Data. Source: Dexscreener

The daily transaction volume for Banana is notable, with over 32,000 transactions occurring each day for the coin.

Banana’s current RSI is at 58, which means it is still below the overbought threshold of 70. However, with an RSI of 58, its potential for growth might be more limited compared to tokens with a lower RSI. It is not yet in overbought territory, but it is approaching levels that indicate more caution may be warranted for further gains.

Jorgie (MONKEY TAKEN BY POLICE)

Jorgie coin was also launched on Pumpfun, just two days ago. It currently has a market cap of $14.3 million and 22,000 holders.

The daily transaction volume for Jorgie is also impressive, with almost 50,000 transactions occurring each day. However, it’s down 38% in the last 24 hours, which could suggest a good entry point for new investors who like meme coins.

MONKEY TAKEN BY POLICE Price Chart and Market Data. Source: Dexscreener

Jorgie’s current RSI is at 44.07, placing it in the neutral zone. This means that while the token is neither oversold nor overbought, there is potential for price movement in either direction. Being in the neutral zone suggests that Jorgie could still experience upward momentum without immediately facing resistance from overbought conditions, leaving room for further growth.

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