Mantra, Sui, and Optimism: Top Crypto Projects to Watch This Week

The cryptocurrency market saw Mantra (OM) reach a new record high Sunday, while Optimism (OP) plans a $53 million token unlock. Sui (SUI), currently on a bearish trajectory, is set to unlock $138 million in tokens this week.

Keep an eye on these cryptocurrencies this week: Mantra (OM), Sui (SUI), and Optimism (OP). Here's why:

Cryptocurrency markets saw Mantra (OM) reach a new record high on Sunday, while Optimism (OP) has a $53 million token unlock planned. Sui (SUI), currently in a bearish trajectory, has a $138 million token unlock this week.

Here's a closer look at the technicals and what each token's trajectory shows.

Mantra: The top crypto project in the real-world asset (RWA) tokenization industry soared to a record high of $4.53. This rebound was in line with our recent OM price prediction.

Mantra's recent surge is due to BlackRock’s CEO calling on regulators to approve the tokenization of stocks and bonds. It also struck a deal to tokenize DAMAC's real estate projects in Dubai.

The daily chart shows that the Mantra price has formed a bullish flag chart pattern, a well-known continuation signal. This pattern consists of a long vertical line and a rectangle pattern, followed by a bullish breakout.

Mantra's flag pole is at least 156% in height. Thus, measuring the same distance from $4.53 suggests that the coin could potentially rise to $11 in the long term.

Optimism: The third-largest layer-2 network is set to unlock tokens valued at over $53 million or 1.48% of the float. It now has over 1.35 billion tokens in circulation out of a total supply of 4.29 billion.

Optimism's unlock comes as the token has faced pressure in recent months. It has dropped to a low of $1.6295, down 40.7% from its peak in November.

Optimism is approaching the key support at $1.6076, which it has not closed below since Dec. 20. It has also formed a symmetrical triangle pattern. As a result, a break below this level could indicate further downside, potentially reaching $1.30, its lowest swing in November last year.

Sui: Similar to Optimism, Sui will also have a large unlock on Thursday, with tokens worth $138 million or 1.1% of the float set to be unlocked. Only 37% of all SUI tokens have been unlocked, with the final one expected in 2069.

This unlock comes as Sui's token has been in a technical bear market, down 22% from this year's high. It has broken below the lower boundary of an ascending channel.

The coin has crossed below the 50-day moving average, and the Relative Strength Index and MACD are continuing to decline. Hence, the coin will likely continue to fall, with the next level to watch being $2.9415, which was its lowest point on Nov. 26.

Among other top coins to watch this week are Pi Network, Ethereum, and dYdX.

Pi Network's know-your-customer verification deadline is on Jan. 31. Ethereum will be in focus as the market follows the controversy with the Ethereum Foundation.

DYdX will have a token unlock on Wednesday, with tokens valued at $9.6 million set to be unlocked.