MANTRA (OM) Drops 7% After Binance Network Support Halt - Technical Recovery Signals Emerge
Darius Baruo Sep 17, 2025 17:38
OM price trades at $0.21 with early bullish momentum despite Binance's network support discontinuation announcement causing a 7% decline this week.
Quick Take
• OM currently trading at $0.21 (+0.48% in 24h) • MANTRA MACD histogram shows bullish momentum despite recent selloff • Binance network support halt announcement triggered 7% price drop on September 15
What's Driving MANTRA Price Today?
The most significant catalyst affecting OM price this week was Binance's September 15 announcement that it will discontinue support for deposits and withdrawals of MANTRA on certain networks starting September 26, 2025. This regulatory-related decision immediately triggered a 7.43% decline in the OM price, demonstrating how exchange policy changes can create immediate selling pressure.
The timing of this announcement proved particularly challenging for MANTRA holders, as it came during an already fragile market environment. However, today's modest 0.48% recovery suggests that initial panic selling may be subsiding as traders assess the actual long-term impact of the network support changes.
Community events like the meditation and mantra workshop hosted by Om Som Yoga on September 13 and Uma's meditation event today have maintained neutral market impact, indicating that fundamental adoption activities continue despite the recent exchange-related headwinds.
OM Technical Analysis: Mixed Signals With Bullish Momentum Hints
MANTRA technical analysis reveals a complex picture with early signs of potential recovery. The most encouraging signal comes from MANTRA's MACD histogram reading of 0.0015, indicating nascent bullish momentum despite the recent price decline.
OM RSI currently sits at 43.84, positioning MANTRA in neutral territory rather than oversold conditions. This suggests that while selling pressure exists, the token hasn't reached extreme bearish levels that typically precede strong bounces. The OM RSI reading indicates room for further upward movement without immediately hitting overbought conditions.
MANTRA's moving averages paint a more cautious picture. The OM price currently trades below both the 7-day SMA at $0.22 and the 50-day SMA at $0.24, but remains at the 20-day SMA level of $0.21. This positioning suggests short-term weakness but potential stabilization around current levels.
The Bollinger Bands analysis shows OM trading near the middle band at $0.21, with a %B position of 0.4437, indicating the price sits roughly in the center of its recent trading range rather than at extreme levels.
MANTRA Price Levels: Key Support and Resistance
Based on current MANTRA technical analysis, traders should monitor several critical OM price levels. The immediate resistance for OM sits at $0.24, coinciding with the 50-day moving average. A break above this level could signal the beginning of recovery from the recent Binance-related selloff.
MANTRA support levels appear well-defined, with immediate support at $0.19 representing a crucial zone for OM bulls to defend. This level aligns closely with the 52-week low of $0.20, making it a psychologically significant area. Should this MANTRA support level fail, the strong support at $0.19 becomes the final line of defense before potentially deeper declines.
The OM resistance structure shows more substantial challenges ahead. While immediate resistance sits at $0.24, MANTRA faces strong resistance at $0.30 – a level that represents a 43% upside from current prices. Breaking through this zone would require significant positive catalysts to overcome the recent negative sentiment.
The OM/USDT trading pair on Binance shows a daily ATR of $0.01, indicating relatively low volatility, which could work in favor of accumulation strategies for patient traders.
Should You Buy OM Now? Risk-Reward Analysis
For short-term traders, the current OM price setup presents a mixed risk-reward scenario. The positive MACD histogram suggests potential for a technical bounce, but the Binance network support issue creates fundamental uncertainty. Aggressive traders might consider small positions with tight stops below the $0.19 support level, targeting the $0.24 resistance zone for approximately 14% upside potential.
Swing traders should exercise more caution given the September 26 deadline for Binance's network support changes. Based on Binance spot market data, the current trading volume of $8.68 million suggests adequate liquidity for position entries and exits, but traders should monitor how volume patterns evolve as the deadline approaches.
Long-term investors face a more complex decision matrix. While the recent 7% decline presents a potential accumulation opportunity, the broader technical picture shows OM price trading 87% below its 52-week high of $8.50. This dramatic decline suggests fundamental challenges that extend beyond the recent Binance announcement.
Risk management becomes critical at current levels. Conservative traders should wait for a clear break above the $0.24 resistance and confirmation that the Binance issue hasn't created lasting liquidity problems. More aggressive approaches might involve dollar-cost averaging with strict position sizing, using the $0.19 support as a hard stop level.
Conclusion
MANTRA faces a pivotal moment as OM price attempts to stabilize following the Binance network support announcement. While early bullish momentum signals from the MACD histogram provide some hope, the fundamental challenge of reduced exchange accessibility creates ongoing uncertainty. Traders should closely monitor the $0.19-$0.24 range over the next 24-48 hours, with particular attention to volume patterns and any additional exchange announcements. The September 26 deadline for Binance's network changes remains the key catalyst that could determine whether current technical recovery signals translate into sustained price improvement for MANTRA.
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