In a notable analysis, crypto expert Inmortal has spotlighted the potential of the Mantle platform’s native token, MNT. He asserts that the current price activities of MNT bear a striking resemblance to Chainlink‘s prior ascent, suggesting the possibility of a significant price increase for MNT.
MNT May Follow Chainlink’s Path
Inmortal, recognized for his social media insights, remarked that MNT’s present price point is particularly appealing. He referenced Chainlink’s remarkable rise from 2019 to 2020, during which it surged by an incredible 3,797% from its lows. He implied that MNT could replicate this success if it continues on its current trajectory.
Inmortal predicts that MNT, currently valued at approximately $0.66, might soar to as high as $6 in the foreseeable future, given its early-stage project attributes. This forecast has sparked interest among those looking for investment opportunities.
Bitcoin Faces Critical Test at $95,000
Inmortal also directed attention to Bitcoin, emphasizing that its behavior at the $95,000 mark will be crucial in determining market trends. He noted that if Bitcoin can hold this level as support, it might lead to further upward movement across the cryptocurrency landscape.
Drawing parallels to Bitcoin’s previous decline from $45,000 to $16,000, Inmortal suggested that current market dynamics could offer insights into potential new lows. If Bitcoin successfully maintains its support line, it may positively influence altcoin markets.
The analyst’s evaluation focuses on historical price movements and technical indicators. This strategy allows potential investors to weigh the opportunities for profit against inherent risks.
- MNT currently trades around $0.66, with potential to reach $6.
- Inmortal sees MNT’s price trajectory as reminiscent of Chainlink’s previous rise.
- Bitcoin’s support at $95,000 is critical for market direction.
- Historical analysis can aid in understanding future price movements.
The insights provided by Inmortal highlight the potential for MNT and the critical nature of Bitcoin’s current price levels, suggesting a dynamic phase for cryptocurrency markets. Investors are advised to stay vigilant and informed as these developments unfold.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/could-mnt-token-mirror-chainlinks-success