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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
OM:
Technical analysis & market mechanics
- Mantra has rallied +554% since November 2024, reaching extended levels, uncorrelated to broader market weakness.
- Local support sits at $6.1270, acting as the lower boundary of the current micro-range.
- Local resistance is defined at $6.5350, capping short-term upside.
- Key resistance zone begins at $7.130
- Long-term support sits at $4.4100, previously a demand base before the major move.
- Structural support also aligns at $3.500, representing the 61.8% retracement from the $9.20 ATH.
- RSI is currently around 46, neutral and supportive of either a continuation or correction.
- Price structure shows a steep, uncorrected ascent - a full pullback would remain within healthy market structure.
- Price remains uncorrelated to broader market consolidation, increasing correction risk.
- Funding rate is flat, showing no strong long or short bias - it does not influence decision-making, and it also adds to the short thesis.
- Next Support: $6.1270
- Next Resistance: $6.5350
- Direction: Bullish
- Upside Target: $7.1300
- Downside Target: $4.410
Cryptonary's take
Following the recent tariff-driven volatility and a projected contraction in risk appetite, assets like Mantra, which have outperformed the broader market without support from macro conditions, are likely to correct. We're eyeing the $6.50-$7.10 region to build a short position, with tiered entries at $6.50, $6.80, and $7.10. We would also leave some bullets in the chamber to add shorts if the price moves higher.The downside targets sit at $4.41 and potentially $3.50. The move would not be overextended - instead, it would be a technically healthy reset that aligns with fib structure and a sentiment shift. Patience is key - we wait for the price to reach resistance, which, given OM's unique strength and key floor, we do expect to happen in the short term.
What’s next?
you’ve seen the OM setup. the next four trades — BNB, XRP, TON, and SPX6900 — are lining up now, with targets ranging from -20% to -45%. we’ve mapped out exact short zones, liquidation levels, and how we’re planning to execute.
BNB:
Technical analysis & market mechanics
- BNB is currently showing resilience but remains within a broader downtrend.
- Local resistance sits at $615, capping recent upside attempts.
- Local support is defined at $580, the current lower bound of short-term structure.
- Clean resistance exists at $640, aligning with short liquidation clusters - first major short trigger.
- Additional short trigger levels at $656 and $670, creating a tiered entry zone.
- $670 aligns with the 61.8% fib retracement from the $731 high to the $507 low.
- Key support rests at $545, a prior pivot and consolidation area.
- Long-term support sits at $500, representing the Q4 2023 range base - tested twice already
- Price action remains speculative, driven partly by CZ's social activity and ecosystem headlines.
- Open interest is currently at $592M, down from $636M on March 28, indicating some risk-off behavior and cooling interest.
- Next Support: $580
- Next Resistance: $615
- Direction: Bullish
- Upside Target: $640
- Downside Target: $500
Cryptonary's take
BNB has moved away from our prior sell zone and is now presenting a cleaner short opportunity as liquidation levels stack above $650.With speculative activity being driven by CZ's presence on X, the asset may experience some counter-trend upside against the broader market, precisely what we want to short into. We're watching the $640-$670 region as our tiered entry zone, scaling shorts at $640, $656, and $670.
On the downside, $545 marks key interim support, with $500 as the ultimate target - a full retracement back to the Q4 range base. Open interest has cooled slightly, and funding remains flat, meaning positioning is clean.
The setup is high-conviction once the price moves into resistance; this is going to be tough to achieve, but if we do get this, it shapes up as a beautiful short opportunity.
XRP:
Technical analysis & market mechanics
- XRP is currently sitting at $2.00, a major psychological level and key range low with multiple wicks confirming buyer interest.
- Local resistance is identified at $2.23, marking the immediate upside cap for short-term momentum.
- Higher resistance levels sit at $2.355 and $2.480, forming the key short entry zone if price trends upward.
- RSI is trending near 40, neutral territory - not overbought or oversold, but showing signs of a downtrend, which means we may begin to see signs of bottoming out in price in the shorter term.
- Minor support at $1.78 may offer temporary bounce if $2.00 fails.
- Stronger downside levels rest at $1.50 and $1.30, aligning with historical structural demand zones.
- $1.30 marks the 61.8% retracement from the cycle move - a healthy correction if achieved.
- Next Support: $2.000
- Next Resistance: $2.2300
- Direction: Bullish
- Upside Target: $2.7300
- Downside Target: $1.300
Cryptonary's take
We're looking to scale into shorts at $2.36, $2.48, and $2.588 as the price pushes higher. This region marks our key selling zone. We expect the $2.00 support to hold in the short term, allowing the price to move higher before rolling over.Once that upside move is complete, we anticipate a breakdown targeting $1.50 and $1.30. The plan is simple - wait for upside levels to get filled, then execute.
TON:
Technical analysis & market mechanics- Shorts were liquidated at $4.08, triggering a sharp sell-off - this level now acts as a key resistance and sell zone.
- TON has broken below local support at $3.50-$3.00, confirming downside momentum.
- $2.90 is the next key downside target - a structural level likely to be tagged given current bearish flow.
- RSI was previously overbought and has now reset back to neutral, validating the short bias and direction.
- If the price moves into $2.90, we anticipate a bounce that sets up a lower high formation.
- Lower high is expected to form between $3.53-$3.62, with potential extension back into $3.790.
- Price action is uncorrelated to the broader market
- Bearish volume is confirming continuation, with little sign of buyer absorption on the way down.
- Short-term trendlines are likely to act as resistance during any relief bounce, aligning with the anticipated lower high zone.
- Next Support: $2.900
- Next Resistance: $3.790
- Direction: Bearish
- Upside Target: $3.790
- Downside Target: $2.000
Cryptonary's take
We expect TON to trade lower into $2.90, where a short-term bounce is likely to develop. This bounce would give us the opportunity to capitalize on a lower high forming into our trade zone at $3.53, $3.62, and $3.79.Shorts were liquidated at $4.08, and the price has since sold off heavily - this zone now marks a high-conviction short opportunity on retest. The direction is clear: push lower into $2.90, bounce, and then roll over again from resistance. We will execute once the price enters our trade zone and confirms the lower high.
SPX:
Technical analysis & market mechanics
- Price exhausted at $0.6436, failing to reach our upper sell zone between $0.82-$0.99.
- Local resistance sits at $0.52
- Local support is defined at $0.45.
- Short interest zones are at $0.65, $0.74, and $0.82 - only levels where we'd consider shorting.
- Despite that, the current move looks vulnerable and is expected to extend lower into $0.36-$0.30 over the coming days.
- RSI is in neutral territory, with room to move higher before triggering any short setups.
- Immediate direction remains down; short setup only becomes valid if price retests upper resistance zones.
- Next Support: $0.4550
- Next Resistance: $0.5200
- Direction: Bearish
- Upside Target: $0.6500
- Downside Target: $0.3000
Cryptonary's take
SPX6900 is a far-end risk curve asset - illiquid, highly volatile, and capable of explosive upside moves. But with risk appetite fading, the bias here is clear: we expect SPX6900 to trade lower into the $0.36-$0.30 region in the short term.Only if the price bounces back into the $0.65-$0.82 region will we look to engage on the short side. Until then, this is a high-beta name that requires patience - not a market to chase early. Let the lower levels get tagged first, then we act.
Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
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