tl;dr
MANTRA (OM) experienced a dramatic 90% price crash and continues to decline. Its technical indicators, including RSI and DMI, suggest extreme oversold conditions and very weak buying activity, comparable or worse than the 2022 Terra LUNA collapse. The RSI dropped from 45 to below 10, indicating stro...
MANTRA's OM token has plunged dramatically, experiencing a catastrophic 90% crash, with charts and technical indicators signaling a level of bearish momentum worse than the 2022 Terra LUNA collapse.
The Relative Strength Index (RSI) for OM fell sharply from 45 to near 10, indicating extreme oversold conditions and virtually no buying interest. Typically, the RSI below 30 denotes an oversold asset, but OM's near-10 level shows a severe lack of demand despite steep discounts.
The Directional Movement Index (DMI) further highlights the bearish trend, with the Average Directional Index (ADX) at 47.23, confirming strong trend strength. The selling pressure, tracked by the -DI, remains dominant at 69.69, while the buying pressure ( DI) has dropped to a minimal 2.42. This imbalance reflects nearly nonexistent buyer activity and persistent seller dominance.
Unlike the Terra LUNA collapse, where many traders bought in to trigger short-term pumps, OM shows no such recovery signals. Analysts warn that OM may lack true on-chain value, adding to a bleak outlook and hesitancy among traders to accumulate the token even at discounted prices.
Given these technical readings — intense selling momentum, extreme oversold RSI levels, and minimal buying interest — OM is likely to continue its downward or stagnant trajectory unless there is a significant shift in market sentiment and fundamental catalysts emerge. Investors should approach OM cautiously, as current indicators do not support a near-term recovery.