MNT Price Shot up 11%; What Next?

Mantle price prediction suggests that bulls are active in MNT crypto and the recovery is likely to continue in the coming months. 

MNT price is forming a mildly bullish pattern and is attempting to break out of the three-month high. If the buyers succeed, then a sharp rise toward a YTD high is possible. 

The 50-day EMA and 200-day EMA both are reversing upward and the price is sustaining above it. It showcases that MNT crypto price is in an uptrend and bulls are continuing the dominance. 

Recently, Mantle price witnessed minor profit booking and retraced back to the EMA. However, the buyers are active near the EMA so they succeeded in bouncing back from the support. 

However, the next phase of recovery will begin when buyers are able to break the $0.5335 hurdle. The buying volume is also on the rise and the price is following the same direction. It shows that buyers are more active and the probability of the breakout is high. 

Currently, MNT price is trading at $0.5035 with a one-day decrease of -1.31%. The 24-hour volume to market cap is 7.24%. The pair of MNT/BTC is trading at $0.00001353 with an intraday decline of -0.66%. 

Mantle Price is Cheap; Good for Long-Term Investment?

Mantle price prediction suggests new swing highs are possible in the coming months. Moreover, the overall crypto market sentiment is positive, so, MNT crypto price is also trading with a bullish bias. 

At present, the MNT price looks cheap and undervalued so long-term investors may look to buy or accumulate it. The chart structure of this token is bullish so it’s better to play longs and stay with the trend. 

The analysis suggests that MNT token might perform well in the coming months so it seems a good pick for long-term investment. 

MNT Price in Recovery Phase and Formed a Bullish Pattern

MNT price is in the recovery phase and rose for six consecutive weeks by forming higher high candles. The price chart looks bullish on the multiple time frame so the probability of continuing the upward momentum remains high. 

The MACD curve lost momentum indicating that the price may consolidate for some time near the supply zone. The supertrend says till the Mantle token price holds $0.4150, the trend will remain upward. The RSI at 62 is also bullish and shows strength in the upmove.

Conclusion

Mantle price prediction suggests a rise in the long-term and new swing highs are possible. The chart pattern of the MNT token is bullish on multiple time frames so more upward momentum is possible. 

The analysis suggests that the MNT price looks cheap at current levels and might be a good pick for long-term investment.

Technical Levels

• Resistance levels: $0.5500 and $0.6499
• Support levels: $0.4000 and $0.3239

Disclaimer

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

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.