Mantle Coin Price Displays a Breakout; Will It Reach $1?

The mantle (MNT) token displayed a sharp rise and escaped above the critical hurdle of $0.680 in the recent sessions. Moreover, the token is in a strong uptrend and persisted in forming a higher high, displaying buying momentum on the charts. Furthermore, the technicals are projecting the bulls’ dominance and the token is willing to reach the swing spot of $1. However, the retracement was noted from the top of $0.8200.

The MNT price has climbed above the key moving averages and has approached the bullish trajectory, directing the follow-on buying structure. Moreover, the token has persisted in extending the rally and recovered over 64% recently. However, with the advancing gains, trading volume remained neutral, signaling a caution for the investors.

The MNT price today was at $0.7255 with an intraday drop of 0.10%, showing a retracement in the recent session. Moreover, the trading volume increased by 3.80% to $98.61 Million, highlighting bullish sentiments. The pair of MNT/BTC was noted at 0.0000170 BTC, while the market cap is $1.34 Billion. Analysts are bullish and suggest that the MNT token price will reach $1 shortly.

Mantle Token On Daily Charts Displays Breakout

On the daily charts, the Mantle token has escaped the foremost hurdle, delivering buyers’ strength and advancing gains above the key moving averages. Moreover, the trend favors the bulls, whereas the bear cartel is trapped and is in trouble. Meanwhile, the investors are taking their profits from the table, which led to a retracement in the last sessions.

The Relative Strength Index (RSI) curve stayed in the overbought zone and displayed a bullish divergence. The MACD indicator showed a bullish crossover, indicating the bulls’ solidity.

The Mantle Token Price on Weekly Charts Reveals V-Shaped Reversal

On the weekly charts, the Mantle token escaped the 52-week high mark and is riding the gains above the bullish trajectory. Moreover, the chart shows the bullish engulfing candlestick and reflects the outperformance for the past sessions. Amidst the positive market sentiments, the Mantle token was one of the favorite tokens and rewarded the investors the most.

Summary

Mantle (MNT) token price escaped the range neckline of $0.6600 and is directing gains toward the spot of $1.00. Moreover, the trend is intact, where fresh buying momentum is spotted, and buyers have persisted in adding long positions. However, the MNT crypto must sustain gains above $.07000 for rally continuation.

Technical Levels

Support Levels:  $0.7000 and $0.6800

Resistance Levels:  $0.7400 and $0.7800

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.