MNT Technical Analysis
Key Insights
- Mantle ranks 44th on CoinMarketCap with a market cap of $1.99B, reflecting its established place in the market.
- After hitting a 2024 ATH of $1.5176, Mantle’s price fell significantly to $0.3062, where it has since stabilized around a key support zone at $0.5866.
- Sustained interest at the POC and consolidation around $0.5866 suggest a potential upward movement, with signs of a trend reversal if volume increases and nearby resistance levels break.
Currently, Mantle ranks 44th on CoinMarketCap with a market capitalization of $1.99B.
MNT Tech Analysis
In 2024, MNT reached a new all-time high (ATH) at $1.5176. This was followed by a significant decline of over 69%, resulting in a local low at $0.3062.
The low was reached through an impulsive move, after which the price quickly returned to a zone where a current accumulation area and heightened interest from market participants have formed.
This interest is confirmed by the volume profile and the Point of Control (POC). The consolidation zone near this level has remained stable over the past three months, indicating a potential redistribution of positions and a balance of power between buyers and sellers.
The asset's sustained presence in this range may suggest the formation of a support level, which could play a key role in a future upward movement.
MNT Price Prediction
The consolidation at the $0.5866 level suggests a gradual redistribution of forces between buyers and sellers. As positions accumulate in this area and potential technical reversal signals (such as divergences on indicators) emerge, the asset is creating a base for an upward movement.
If the market continues to hold the price at the POC level, expectations for growth will be strengthened. With ongoing interest around the $0.5866 level, an impulsive breakout from the consolidation zone may follow.
An increase in trading volume and a breakout of nearby resistance levels could serve as signals for an active upward movement, creating conditions for the development of an uptrend.
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