Mantra OM Crypto Crash Wipes Out $5.4B: No Recovery In Sight as Buyers Flee

10d ago•

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bearish:

The post Mantra OM Crypto Crash Wipes Out $5.4B: No Recovery In Sight as Buyers Flee appeared first on Coinpedia Fintech News

The crypto market faced a big shock as MANTRA (OM) crashed by more than 90% in a single day, drawing comparisons to the infamous Terra LUNA collapse.

But here’s the (worrying) twist: unlike LUNA, OM isn’t showing even the faintest signs of recovery. No bounce, no “buy the dip” rush — just silence. And that silence is making people nervous. It’s under heavy selling pressure, and charts show almost no interest from buyers.

Right now, most traders are staying on the sidelines, watching and waiting. Until buying interest returns or something significant changes, OM is likely to stay down.

Why is no one stepping in to save OM? Let’s explore.

OM Technical Analysis

OM is currently trading around $0.60, down from over $6 just last week. That drop has erased around $5.4 billion in market value and triggered panic across the market. Today alone, OM is down another 24%, even as the team tries to calm the situation.

Looking at the charts, OM’s Relative Strength Index (RSI) fell sharply during the crash — dropping from 45 all the way down to just 4, before recovering slightly to 10.85. Normally, an RSI below 30 suggests an asset is oversold and could attract buyers. But in OM’s case, even at these extreme levels, no one seems interested in stepping in.

This lack of buying activity shows how weak confidence in OM has become. Without a major change in sentiment or some kind of unexpected news, a rebound seems unlikely.

Bearish Momentum Takes Over

Adding to the negative outlook is OM’s Directional Movement Index (DMI). The ADX, which measures how strong a trend is, sits at 47.23 — far above the usual 25 mark that signals strong momentum. But in this case, the momentum is clearly bearish.

The -DI (which measures selling pressure) is very high at 69.69, while the +DI (which tracks buying strength) is just 2.42. This huge gap shows how one-sided the market has become — sellers are completely in control.

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Even though the panic selling has slowed down a little, there’s still no real support from buyers. The charts don’t show any strong support levels, and without a surprise catalyst, OM could either fall further or remain stuck at these low levels.

LUNA All Over Again — But This Time, Worse

OM’s current situation is being compared to the worst moments of the LUNA collapse. But there’s one big difference: at least LUNA had bursts of speculative buying. With OM, even that is missing.

Unless something dramatic changes, OM looks even more fragile — and it remains deep in the danger zone.

OM’s got a long road back, if there’s a road at all.