Key Takeaways
Mantle started 2024 positively, reaching its yearly high in April. However, the rest of the year was not as smooth since the price fell by 70% over six months.
While MNT began another upward movement in November, it failed to break its previous highs.
2025 has not been kinder – Mantle’s price fell by 22%, causing a breakdown from a critical support level.
However, Mantle has regained its footing by increasing 35% in the past five days and reclaiming the support area.
With momentum building, it is worth looking closely at the movement to see if it can take MNT to a new all-time high.
After trading inside a horizontal range between August and November, MNT accelerated its upward movement and ended the year on a rally. The MNT price reached a high of $1.42 on Jan. 5, only slightly under the all-time high price of $1.51.
MNT fell afterward, seemingly breaking down from the $1.08 horizontal support area, and fell to a low of $0.92 on Jan. 20.
However, MNT has rallied by 35% since and is creating its fifth successive bullish candlestick.
The Mantle price also cleared the 0.618 Fibonacci retracement resistance level at $1.23, often acting as the top if the movement is corrective.
Technical indicators have turned bullish. The Relative Strength Index (RSI) just increased above 50, and the Moving Average Convergence/Divergence (MACD) has just made a bullish cross (black circles).
Both are considered positive signs associated with a bullish trend.
So, the daily time frame suggests that Mantle will continue to increase.
Mantle’s wave count suggests the upward movement will continue to a new all-time high. The most likely count suggests MNT has completed wave four in a five-wave upward movement (white).
The sub-wave count is in black, showing an irregular flat correction.
If the count is accurate, MNT has started its upward movement’s fifth and final wave.
The most likely target for the top of this increase is between $1.66 and $1.82, created by the 1.61 external Fibonacci retracement of wave four and by giving wave five the same length as waves one and three combined.
After reaching the target, the MNT price could undergo a lengthy correction. Alternatively, falling below the Jan. 20 low of $0.92 will invalidate this count, implying the entire five-wave increase is over. Currently, this seems unlikely.
The Mantle price created concern by falling below the $1.08 horizontal support area.
However, the upward movement indicates that the correction is over, and new highs are likely.
The wave count predicts a new Mantle all-time high inside the $1.66 – $1.82 region.