The cryptocurrency market is witnessing mild retracement pressure today, with Bitcoin (BTC) and Ethereum (ETH) each down over 1%. This broader pullback has extended into several altcoins, including Mantra (OM).
Although OM is registering a modest dip in price, its lower-timeframe technical structure is hinting at something far more constructive beneath the surface — a harmonic setup that appears primed to fuel a potential upside extension.
Harmonic Pattern Taking Shape
On the 4H chart, OM is forming a Bearish ABCD harmonic pattern. While the label may imply eventual exhaustion at the PRZ, this formation is historically known for producing a powerful bullish CD-leg before any reversal region becomes relevant.
The progression began with a lift from Point A at $0.07127 to the swing high at B, followed by corrective flow into C near $0.07468, where buyers showed strong commitment. This reaction at C provided structural confirmation and built the groundwork for the current bullish extension.
Since establishing support at C, OM has nudged back up to approximately $0.07587, indicating that the CD-leg — often the most forceful ascent within this setup — is beginning to unfold.
The immediate technical challenge now rests at the 50 MA positioned near $0.07842.
What’s Next for OM?
Should bullish momentum sustain and break past the 50 MA barrier, the next target lies at the 1.641 Fibonacci projection, aligning around $0.08342. This level also coincides with the upper boundary of the harmonic pathway, marking an upside potential of approximately 10% from current market positioning.
If momentum fails to hold and price slips back below the C marker at $0.07468, extension efforts may cool temporarily. That breakdown would not invalidate the larger pattern but could delay the upward phase by forcing OM into deeper consolidation before attempting another lift.
For now, OM remains technically constructive — defended support, building momentum, compressing below dynamic resistance, and preparing for a potential breakout if liquidity aligns.