Why OBT, OM, and SEI Are Gaining Traction in Crypto Today

The cryptocurrency market has seen a reversal in its recent recovery, entering a downward trend as trading volumes drop dramatically. Over the past 24 hours, the total market capitalization has decreased by a staggering $40 billion.

However, amidst this general decline, certain altcoins have captured the attention of investors, notably Orbiter Finance (OBT), Mantra (OM), and Sei (SEI).

Orbiter Finance (OBT)

OBT is making headlines today as it defies the broader market trend. While most cryptocurrencies are experiencing losses, OBT has managed to rally, reaching a peak of $0.033 during the early hours on Friday in Asia. Although it has since experienced a minor pullback, demand for this altcoin remains robust.

Current readings from the Directional Movement Index (DMI) support the observed increase in demand for OBT. At this time, the positive directional index (marked in blue) is significantly higher than the negative directional index (in red).

This specific DMI setup indicates strong bullish momentum, suggesting that buying pressure is outpacing selling pressure. If this bullish sentiment continues, OBT may reclaim its earlier high of $0.033 and potentially surpass it.

However, should selloff pressures return, the token’s price could drop to around $0.021.

Mantra (OM)

Another altcoin in the spotlight today is Mantra’s OM, which, unlike OBT, has seen a price decrease of 3% in line with the overall market downturn, currently trading at $6.24.

A negative Balance of Power (BoP) reading of -0.45 on the daily chart further confirms the weakening demand for this altcoin. The BoP indicator evaluates the relative strength between buyers and sellers by examining price trends and market momentum. A negative BoP suggests that sellers are currently in control, indicating increased selling pressure could lead to further price drops.

If this trend continues, OM could see its price decline to approximately $4.05.

On the flip side, if buying activity picks up, the price might revisit its all-time high of $9.11.

Sei (SEI)

SEI has managed to carve out its own path by gaining 6% in the past 24 hours, now trading at $0.20. Its trading volume has also seen a notable increase of 13%, totaling $117 million, indicating heightened interest despite the overall market dip.

If the demand for SEI strengthens further, the altcoin could potentially extend its rally to $0.25.

Conversely, should sellers regain control and begin dumping their holdings, SEI might experience a decline, dropping to around $0.17.

Overall, despite a challenging environment for cryptocurrencies, OBT, OM, and SEI are differentiating themselves with distinct price movements, underscoring targeted investor interest in these altcoins.