OMUSD Daily Outlook

MANTRA is a security-first RWA Layer 1 Blockchain, capable of adherence and enforcement of real-world regulatory requirements. Built for Institutions and Developers, MANTRA is a Permissionless Blockchain for Permissioned applications.

Built using Cosmos SDK, IBC compatible, with CosmWasm supported.

"CosmWasm" is short for "Cosmos WebAssembly". It is the smart contracting platform built for the Cosmos Ecosystem and is the principal means by which Developers can build, deploy, and execute smart contracts on the MANTRA Chain.

Optimized on-chain and cross-chain transactions powered by Inter-Blockchain Communication Protocol (IBC).

Any weekly close above $1.50 confirms further bullishness.

OMUSD formed a double bottom around $1.10 and showed a minor pullback. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a low of $1.2475 and is currently trading around $1.21704.

The bullish invalidation can happen if the pair closes below $0.580. On the lower side, the near-term support is $1.10. Any break below targets $0.80/$0.58. Any breach below $0.58 targets $0.30.

The pair's near-term resistance is around $1.50. Any breach above confirms minor bullishness. A jump to $1.75/$2 is possible. A surge past $2 will take it to $3.

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It is good to buy on dips around $1 with SL around $0.80 for TP of $1.50/$1.75.

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