OKX Takes Charge of Accounts in MANTRA (OM) Situation
Suspicious Activity Identified: OKX has detected suspicious account activities related to the MANTRA (OM) token, indicating potential price manipulation and leading to legal proceedings involving regulators and law enforcement.
Market Impact and Legal Actions: The manipulation resulted in significant losses and a crash of over 90% in OM's value, prompting OKX to take control measures and initiate legal actions while raising concerns about systemic risks in the cryptocurrency market.
CEO's Concerns and User Advisories: JP Mullin, CEO of MANTRA, criticized OKX for misleading migration timelines and urged users to withdraw their OM tokens immediately, highlighting a lack of communication since the crash.
Future Regulatory Scrutiny: Experts predict increased regulatory scrutiny on margin borrowing practices and suggest closer monitoring of activities to prevent future market manipulation incidents.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for OM
Technical Sentiment Analysis for MANTRA (OM) As of , MANTRA (OM) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for OM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, OM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
MANTRA (OM) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0179 | 0.0278 | 0.0376 | 0.0474 | 0.0573 | 0.0671 | 0.077 |
| Fibonacci | 0.0278 | 0.0353 | 0.0399 | 0.0474 | 0.055 | 0.0596 | 0.0671 |
About OM
About the author
