Mantra (OM) Falls 95%, Faces Strong Resistance
Key Takeaways
- The price of Mantra (OM) has dropped to USD 0.32 – a 95% decline since its March high.
- Large investors (“whales”) are pulling out significantly, increasing selling pressure.
- Over 93% of OM holders are currently at a loss – creating resistance during price increases.
- The number of active addresses is rising, indicating ongoing interest from retail investors.
- The derivatives market shows uncertainty – significant long and short liquidations without a clear trend.
Sharp Price Decline Despite User Interest
The OM token from Mantra has fallen below USD 0.32 after a sharp sell-off. Back in March, the price was above USD 6. The 95% drop was triggered by a technical breakdown followed by panic selling. Since then, the price has been moving in a low-volume range with no clear signs of recovery. The Relative Strength Index (RSI) is at 25 – a level that indicates heavily oversold conditions. Despite the weakness, user activity is increasing, suggesting speculative interest.
Whales Pulling Back – No Confidence in Recovery
On-chain data shows that large investors continue to sell. Whale net flows have decreased by 129% over the past 30 days and by over 4000% in the past 90 days. While there was a short-term inflow increase of 234% within one week, this seems to be driven more by short-term speculation than by long-term confidence. Without a sustained return of these large investors, selling pressure remains high.
High Resistance from “Underwater” Investors
Currently, 93.77% of all OM addresses are in the red. Only 6.23% of investors are holding OM at a profit. Most positions were established between USD 0.32 and USD 5. This means that every price increase is likely to face selling pressure, as many investors aim to limit their losses. Particularly around the USD 0.40 level, there are large supply zones. A breakout above this level would be necessary to unlock further upward potential.
More Blockchain Activity – Hope from Retail Investors?
Despite the price drop, the number of new addresses has increased by 21.84% within a week. Active wallets (+11.29%) and wallets with zero balance (+21.28%) are also on the rise. This suggests growing interest from retail investors, possibly hoping for a bottom formation. However, this activity alone is not enough to reverse the trend – institutional support remains crucial.
Derivatives Market Shows Uncertainty
Data from the derivatives market paints a picture of indecision. Long positions worth USD 457,000 were liquidated, as well as short positions amounting to USD 143,000. Most liquidations occurred in the USD 0.30 to USD 0.35 range. This zone currently acts as a trap for both bulls and bears. As long as there is no clear direction, OM is likely to remain within this range.
Our Assessment
OM is at a critical juncture. The massive price decline, the retreat of whales, and the large number of loss-making investors are creating significant pressure. While there are signs of continued interest from retail investors, a sustainable recovery remains uncertain without strong inflows from institutional players or large investors. The area around USD 0.40 is becoming a key level: only if this resistance is broken could the outlook improve. Until then, caution is advised. Anyone trading OM should closely monitor current volatility and the weak market structure.
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