Can MANTRA (OM) price rebound as RSI dips below 20?
The post Can MANTRA (OM) price rebound as RSI dips below 20? appeared on BitcoinEthereumNews.com.
The Mantra (OM) token has fallen below $0.40, with RSI at 17.18, signalling oversold conditions. 300M OM tokens are scheduled for burning to curb supply, but price recovery remains elusive. The Mantra team also plans governance reforms to restore trust, though volatility persists. The Mantra protocol’s native token, OM, has plunged below $0.40, igniting speculation about a potential rebound as its Relative Strength Index (RSI) drops to an oversold level of 17.18. This steep decline follows a dramatic crash in April 2025, erasing billions in market capitalisation and shaking investor confidence. With technical indicators flashing extreme bearish signals and the MANTRA team implementing token burns and governance reforms, the question looms: can OM recover, or is further downside inevitable? A catastrophic OM token crash and lingering fallout On April 13, 2025, MANTRA’s OM token plummeted from $6.30 to $0.37 in mere hours. The collapse slashed the project’s market capitalisation from $6 billion to under $700 million. Attributed to forced liquidations during low-liquidity weekend trading, the crash sparked rumours of exchange involvement, which the team swiftly denied. CEO John Mullin released on-chain data to counter claims of insider selling, confirming that team-held tokens remained locked. In response to the crisis, MANTRA’s leadership took decisive action to curb selling pressure. CEO John Mullin burned 150 million staked OM tokens from the team’s allocation on April 29, 2025. An additional 150 million tokens from ecosystem partners are slated for destruction, totalling 300 million OM—roughly 16.5% of the total supply. This significant reduction aims to tighten supply and bolster investor confidence. However, the market has yet to respond, with OM lingering below key technical thresholds, suggesting scepticism persists. Beyond token burns, MANTRA’s team is pursuing structural changes to rebuild trust. Plans for decentralising validators and upgrading governance aim to enhance the protocol’s resilience and…
Filed under: News - @ May 5, 2025 12:26 pm