Mantra Price Forecast: What Next for OM as Top 10 Whale Wallets Invest $93M in 7 Days?
Mantra (OM) price stabilized at the $6 mark on Tuesday, defying crypto market volatility to book 70% gains over the last 17 days. WIth whales piling on bullish pressure, can OM advance above $7.50 in the days ahead?
Mantra (OM) Breaches $6 Resistance as Traders Lean Toward RWA Projects Amid Market Turbulence
Mantra (OM) stabilized at the $6 mark on Tuesday, defying crypto market volatility to book 70% gains over the last 17 days. Market reports suggest the OM price rally is driven by negative sentiment from macroeconomic volatility, as traders seek shelter in tokenized real-world assets (RWAs) like bonds and treasury-backed tokens.
The TradingView chart above shows z surging from $3.20 to stabilize at $6 at the time of writing on February 11. This 70% gain ranks Mantra among the top-performing altcoins, currently in the top three crypto assets by market performance, according to data from CoinGecko.
Top 10 Whale Wallets Acquire 15.6 Million OM Coins in 7 Days
When a mid-range altcoin like OM outperforms Bitcoin and Ethereum, it often signals an active internal bullish catalyst. On-chain data confirms this, showing significant whale accumulation in recent weeks.
Santiment’s whale-tracking chart below highlights the balance held by the top 10 largest OM wallets, providing insights into daily buy/sell trends among institutional investors.
As of February 2, the top 10 largest whale wallets on the Mantra Chain network held a cumulative balance of 648.2 million OM. However, with the escalation of the US-China trade war, institutional investors significantly increased their holdings. By February 11, these whales had accumulated 663.8 million OM, adding 15.6 million OM worth approximately $93.6 million over the past seven days.
This accumulation indicates that institutional investors are turning to tokenized assets as a safe haven during crypto market volatility. When whales accumulate large amounts of tokens amid a market correction, it signals long-term confidence in the asset’s upside potential. Additionally, the $93 million whale purchases provide liquidity, allowing profit-takers to exit without disrupting OM’s bullish momentum.
With institutional accumulation supporting price stability, OM could extend its rally if buying pressure persists in the coming trading sessions.
Mantra (OM) Price Forecast: OM Could Top $7.50 If This Happens
Mantra price forecast suggests that OM remains in a strong uptrend after rallying 70.46% in just 17 days. As of Feb 11, OM price is currently consolidating near $6.00, slightly below its recent high of $6.47.
The Elliott Wave structure indicates that Wave 5 may have topped, with potential corrective levels at the 0.382 ($5.16), 0.5 ($4.75), and 0.618 ($4.35) Fibonacci retracement levels.
The MACD remains bullish, with the blue MACD line above the signal line, though momentum is weakening as histogram bars shrink. A continued crossover to the downside could confirm a correction. Meanwhile, the Parabolic SAR at $4.87 provides strong support, aligning with the 0.5 Fibonacci level.
A breakout above $6.47 could extend OM’s bullish impulse, with the next psychological resistance near $7.50. However, failure to hold $6.00 may trigger a retracement toward the Fibonacci levels before resuming the uptrend. A deeper decline below $4.87 would invalidate the bullish scenario, suggesting a shift in trend.
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