- Mantle price is witnessing extreme bullish pressure on the daily technical chart.
- MNT price has surged by 73% over the last month and 10% in the last 24 hours.
The Mantle (MNT) has gained an explosive 73.72% in the last 30 days, which has brought its market capitalization to surpass other established projects like Aave (AAVE), Pepe and more. Such an impressive spike is not merely another altcoin pump, but a significant change in the technical framework of the token that may push the price to reach the $2 mark.
The inherent driver of this bullish rally is the strategic integration of Mantle with the Bybit exchange, where MNT has moved beyond a mere utility token to a central asset in the ecosystem. This incorporation has spurred significant hoarding by big holders, and wallets with 100,000 to 1 million MNT have added their combined holdings by 17.36 million to 20.68 million tokens in recent days. This type of intense buying by sophisticated investors is usually followed by large price changes.
The daily chart shows that the MNT price is heading in the upper direction by making a higher high structure. As per CMC data, the token is currently changing hands at $1.3900, and it has changed a long accumulation period into a fierce bull run. This breakout pattern is especially important because it was on large volume, which means that it was not speculative buying, but a real institutional interest.
What Next For Mantle Price?
The moving average structure has turned strongly bullish, with MNT currently trading above all major exponential moving averages such as the 50, 100 and 200-period EMAs. The 50 EMA of $0.9234 is offering immediate dynamic support, and the wider EMA alignment offers a bullish ladder effect that generally precedes prolonged rallies. This technical configuration is classic of assets in the early stages of significant uptrends, where all the moving averages now become a stepping stone of support, not resistance.
Momentum indicators are also telling an equally convincing story. The MACD has produced a powerful bullish crossover where the MACD line at $0.1515 crossed above the signal line at 0.1211, and the expanding histogram is confirming increasing upward momentum. The RSI value at 75.17 shows that there is a strong buying pressure but not extreme overbought levels, which implies that there is still scope for further appreciation until it hits some major technical resistance.
In the short term, the nearest resistance level is at the level of $1.50, which is a psychological level, and its breakage will, in all probability, lead to the activation of algorithmic purchases and momentum traders to continue to the goal of $2. The existing technical setup, coupled with the betterment of fundamentals and institutional build-up, indicates that MNT is poised to perform better in the near future.
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