Mantra (OM) has surged by 12% over the past week, solidifying its position as the second-largest Real World Asset (RWA) token by market capitalization. With a valuation approaching $6.8 billion, Mantra continues to attract investor interest, particularly as it rivals industry leader Chainlink (LINK). The positive momentum comes after a robust uptrend that has seen the token grow from near zero early in 2024 to nearly $10 today.
According to recent analysis, Mantra's price dynamics reveal strong bullish indicators. Currently trading at approximately $6.90, the Relative Strength Index (RSI) stands at 58.28, suggesting neutral-to-bullish momentum. This performance is corroborated by an Average Directional Index (ADX) score of 36.31, indicating a strengthening trend. These figures combined provide a promising outlook for the token’s price trajectory.
Markedly, the token's recent success follows a period of consolidation, with key support levels holding firm before breaking out again. The RSI briefly peaked at 72.51 on March 18, suggesting an approach to overbought conditions. However, this pullback saw the RSI normalize to a healthy reading of 57.89. Traders are keeping a close eye on crucial resistance levels at $8.17, as a breakout above this threshold could propel Mantra towards the psychologically significant $10 mark.
The Ichimoku Cloud indicators further show that Mantra maintains a bullish outlook. The price is trading above the cloud, with positive projections suggesting that this trend could continue if the structure holds. Additionally, the EMA (Exponential Moving Average) lines indicate a potential golden cross formation, which would further reinforce bullish expectations.
Despite its rapid ascent, Mantra is not without challenges. On March 18, the project faced a setback with the identification of over 123,000 fraudulent wallets attempting to exploit its current airdrop campaign. In response, Mantra initiated a 48-hour governance vote to determine how to address 26.9 million OM tokens flagged as suspicious. This decision was made to prevent any deliberate market manipulation, and it will take effect irrespective of public announcements.
The volatility in the Mantra market is underscored by an increase in open interest for OM futures, which climbed from a monthly low of $319 million to $378 million. This suggests a growing confidence among traders regarding future price movements. Furthermore, the project has successfully tokenized over $500 million in assets, having secured a Virtual Asset Service Provider license from Dubai’s regulatory authority in February 2025.
Strategic partnerships, such as a significant deal with DAMAC Group early this year, have fortified Mantra's market position. With ongoing growth and expansion plans, including a community-driven airdrop, the outlook for Mantra seems bright. The company’s governance decision regarding the flagged tokens will likely shape its response to future challenges.
As traders prepare for further movements in the market, all eyes will be on whether Mantra can extend its rally and possibly make new all-time highs. Should price momentum fade, support levels are at $6.57, and further declines could see prices lingering near $6.15 or even as low as $5.85. Investors are advised to remain vigilant as market conditions continue to evolve, keeping a close watch on both technical indicators and broader market trends.
With positive technical signals and strong fundamentals, the anticipation surrounding Mantra continues to grow. Its position as a leading player in the RWA sector, alongside its impressive asset tokenization achievements, places it at the forefront of market innovations that investors should not overlook.
