Mantle (MNT) Surges 20% in a Day, Reaches Highest Price in 5 Months

Key Takeaways

Mantle (MNT) reached the highest price since February.
The MNT price broke out from the $0.83 horizontal resistance.
How long will the Mantle upward movement continue?

Mantle (MNT) was one of the standout performers in the crypto market recovery yesterday, surging by more than 20%.

The rally follows a wave of positive news from the Mantle team, who reported sharp growth in active users, total value locked (TVL), and stablecoin supply and volume for August.

MNT also broke through a key horizontal resistance level that had held since February, pushing into price territory it hasn’t explored in months.

Since the breakout, traders have been watching closely to see whether Mantle can sustain its bullish momentum.

Mantle Price Analysis

Mantle had been stuck in a downward trend since breaking below the $0.85 resistance level in February, with the decline accelerating in May.

The token eventually bottomed out at $0.52 on July 4, its lowest price in over a year.

But that trend may have finally reversed.

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After staging a strong comeback, Mantle made an initial breakout attempt that fell short, but regained momentum last week.

On Monday, MNT decisively broke through the $0.85 resistance and is now validating it as new support (see green icon).

Today’s bullish candlestick provides further confirmation that the breakout is legitimate.

Looking ahead, Mantle now enters a new potential trading range between $0.83 and $1.23, with $1.03 as a key mid-range level to watch.

Mantle Weekly — MNT/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

Momentum indicators are backing the bullish case. The Relative Strength Index (RSI) has bounced from the 50 level, and the MACD has made a bullish crossover (highlighted in black).

Overall, the outlook for MNT is bullish, with the price likely to continue climbing toward the mid-range, and possibly testing the upper end of the zone in the weeks ahead.

Why is Mantle Going Up?

A closer look at the price movement and wave count confirms that Mantle has started an impulsive rally.

Before starting the current rally, MNT completed a five-wave upward movement (green) and an A-B-C correction (red).

MNT Wave — MNT/USDT Six-Hour Chart | Credit: Valdrin Tahiri/TradingView

While it is unclear if the ongoing increase is wave three of wave C, the MNT price will likely increase either way.

The minimum target for the top of the rally is $0.97, given that both increases are the same length.

Mantle’s long-term count is even more bullish. It shows that the price has completed an A-B-C correction (black), where wave C was an ending diagonal.

Mantle Long-Term — MNT/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

This means that the current increase has a higher chance of being wave three since a long-term correction is over.

If this is the case, the Mantle price will move toward the top of its range and potentially reach a new all-time high.

New Highs Likely

Mantle’s technical analysis suggests the current rally is more than a short-term bounce.

Momentum is building, and the wave count predicts new highs are likely.

Mantle could climb to at least $0.97, and the bullish scenario predicts a new all-time high could happen.

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Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

[email protected]

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Mantle (MNT) Surges 20% in a Day, Reaches Highest Price in 5 Months

Mantle Price Analysis

Why is Mantle Going Up?

New Highs Likely

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