Mantle on the Brink of Price Discovery: Can the Rally Sustain?
Mantle (MNT) continues to capture attention after gaining more than 4% on Wednesday, breaking above the R2 pivot resistance at $1.80. This breakout signals growing bullish momentum, pushing the token closer toward entering price discovery mode. If buyers manage to secure a strong daily close above this level, MNT could be primed for an extended rally, potentially targeting the R3 resistance at $2.21 — a move that would establish a new record high for the token.
Technical Picture Remains Bullish
The daily chart indicators strengthen the bullish case for Mantle:
MACD (Moving Average Convergence Divergence): The MACD line continues to slope higher above the signal line, suggesting renewed upward momentum. Importantly, Mantle has avoided a bearish crossover, keeping the current trend intact.
RSI (Relative Strength Index): Currently sitting at 65-67, the RSI reflects strong buying pressure but is not yet in extreme overbought territory. This leaves Mantle with more room to climb before conditions turn overheated.
Together, these signals point toward a market environment where bulls are in control, with technical indicators validating the potential for further gains.
Key Levels to Watch
Upside Targets:
Immediate resistance remains at $1.80, with a decisive daily close above this level serving as confirmation of continued bullish strength.
If momentum sustains, Mantle could advance toward the $2.21 R3 pivot resistance, opening the door to new all-time highs and a potential test of the psychological $2.50 mark in the medium term.
Downside Risks:
If Mantle fails to hold above $1.80, traders should watch for a pullback toward the R1 pivot level at $1.4885, which could act as the next area of support.
A break below this zone may signal fading momentum and invite additional selling pressure.
Market Outlook
Mantle’s breakout above $1.80 highlights the strength of current bullish sentiment, but traders should remain mindful of increasing volatility near resistance zones. With technical indicators leaning bullish and the token inching closer to uncharted territory, MNT’s price action over the next few sessions will be critical in determining whether this rally transitions into full price discovery mode.
For now, the outlook favors buyers, with dips likely to be met by strong demand as long as MNT stays above key support levels.
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