As Bitcoin bulls display sluggish behaviour, the altcoins have jumped into action. The prices of popular cryptos like ETH, XRP, ADA, SOL, etc. and a few more have been facing a significant rise in the selling pressure. As a result, the traders have shifted their focus over the other altcoins like Mantra (OM) & Waves (WAVES) that have gained significant attention since the early trading hours.
Mantra (OM) Price Analysis
Mantra price maintained a consolidated ascending trend throughout 2024 within a rising parallel channel. Meanwhile, a huge bullish push triggered a massive upswing, elevating the levels from the consolidated range below $1.5 to as high as $4.5. Despite a rise in bearish activity, the price has held the support above $3.8, suggesting a rise beyond the highs may be fast approaching.
The OM price has been trading within a rising parallel channel for nearly a year and has diminished the range in the past few days. This suggests an extreme price squeeze, which is expected to result in a huge breakout shortly. The conversion and baselines of the Ichimoku cloud have approached a bullish crossover. Besides, the DMI levels have converged due to a massive drop in volatility that may eventually result in a crossover.
As the OM price is demonstrating strong support at $2.89 with a higher target of around $5.57, it reflects significant growth potential. However, a continued uptrend of Bitcoin may play a critical role in driving OM’s performance higher.
Waves (WAVES) Price Analysis
The Waves price has been making significant waves ever since the price broke out from the consolidated range below the pivotal zone. After the 200% jump in the last few weeks of 2024, the token has become more volatile, resulting in a notable rise in the trader’s attention. Currently, the price has entered a decisive phase and is expected to remain within the range until the end of the monthly trade.
As seen in the above chart, the WAVES price has been trading within the range after facing a rejection from its interim highs above $2.5. Despite this, the price maintains an ascending consolidation and could probably reach the apex of the decisive symmetrical triangle by the end of the month, which might result in a massive breakout towards the highs. The volume has been increasing at frequent intervals, suggesting the traders remain vigilant over the WAVES price action.
The WAVES price is trading at $1.78, just above an important support at $1.77 and if it holds, a rise to $2 could be imminent. Meanwhile, the RSI is marking higher highs and lows, validating the bullish claim.
