Mantra Bullish Momentum Defies Bearish Trend

Many leading cryptocurrencies are currently undergoing a market correction, creating a mixed landscape for traders. On one hand, price declines present opportunities to buy assets at discounted levels. On the other, they highlight a key challenge within the crypto space—the strong correlation between major digital assets.

This similarity in price movements emphasizes the importance of diversification, as portfolios heavily concentrated in dominant cryptocurrencies are more exposed to market volatility.

In stark contrast to this trend, Mantra has emerged as an exception, surging 50% since the start of the year. Its independent trajectory makes it an attractive option for traders looking to hedge against broader market downturns.

Daily time frame analysis

OMUSD - 1 Day Time Frame

As highlighted in our introduction, today’s analysis focuses on a unique buying opportunity in the form of a cryptocurrency that has successfully diverged from the ongoing correction trend dominating the market.

Since the start of the year, Mantra has consistently formed clear bullish market structures, reinforcing its prevailing upward trend. A crucial validation of this trend lies in the key support zone, established through an impulsive bullish price movement.

Given the current setup, traders have an opportunity to enter buy positions targeting psychological price levels at $7.0, $7.5, and $8.0. For effective risk management, a Stop-Loss order could be placed below the most recent external higher low on the daily timeframe, as shown in the attached chart.

Mantra price target

While the bullish structure remains intact, it’s critical for traders to closely monitor key support zones. If the price closes below one—or in a more bearish scenario, both—on the daily timeframe, it may be wise to partially exit the position before the Stop-Loss is triggered.

This proactive approach allows for flexible risk management, helping to preserve gains in case of a sudden shift in market structure.

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