- The MNT price has jumped by 75% in the last 2 days.
- Mantle crypto price has surpassed the 100-day EMA and witnessed strong buying momentum.
- The trading volume has surged by 230% in the previous 24 hours.
According to the technical chart, the Mantle price has been bullish and is up by 50% in a week. The Mantle (MNT) price has recorded an all-time high of $1.18, with an intraday loss of 6.24%. The price has failed to sustain the $1.50 and has declined by 20% in a few hours.
Since February, the Mantle crypto price has been bullish, but it has been unable to sustain the $1 mark. The price dropped by 30% in 10 days, grabbed the liquidity from the $0.8 hurdle, and performed positively. The price has struggled between 20-day- and 100-day EMAs for 10 days, triggering a strong volume breakout. The trading volume jumped by more than 100% during the breakout.
The current market price of Mantle is $1.187, which has dropped by 5.85% in the last 24 hours. The market capitalization is $3.85 billion, which has increased by 26% in the past 24 hours. The 24-hour trading volume is $829.74, rising 230%.
Whales Holdings
The whales’ holdings have decreased from $10 billion to $5.46 billion in a year. According to the current holdings, whales hold $5.46 billion, investors hold $597.35 million, and retailers hold $161.35 million.
Mantle Crypto Price vs Volume Analysis
According to the graph, the trading volume has increased by 800% since February, and the price has witnessed slow and steady gains. In the last 4 days, the trading volume has increased by 600%, affecting the MNT price positively. If the trading volume dumps, the price may react negatively.
Technical Analysis of Mantle Crypto Price on 1-D Timeframe
The Mantle crypto price has been rising by facing resistance from the trendline. The price has taken support on the 100-day exponential moving average, surpassed the 20-day EMA, and extended to an all-time high. The price has shown rejection and failed to sustain the $1.50 mark.
Suppose the MNT crypto price faces resistance from the trendline and slips below the $1.10 mark; the selling pressure can be observed. If the price fails to defend the $0.800 mark, sellers may dominate further.
On the other hand, if the Mantle crypto price surpasses the trendline and sustains, it may look for a new all-time high. Suppose the MNT price chart manages to attract investors; a bullish momentum for the long term can be expected.
Based on the technical indicators, the Mantle price is trading over the significant moving average, showcasing bullish momentum. The RSI is at 70, rapidly rising to the overbought zone. Overall, the technical indicators are favoring bullish momentum.
Mantle Crypto Price Has Declined by 20% in a Few Hours; What’s Next?
In a 4-H time frame, the MNT crypto price has shown price rejection from the $1.50 hurdle and has declined by 20% in a few hours. After a strong buying momentum, the MNT price has witnessed profit booking. However, if the buyers bring back their confidence, this fall can be converted into a pullback.
Suppose the price surpasses the $1.30 mark and sustains; the buyers may take it to a new all-time high. The sellers may dominate further if the price starts trading below the 20-day exponential moving average.
Conclusion
Mantle price has performed bullishly for the last few months and is currently at an all-time high. The MNT price has risen by 50% in a week and declined by 20% in a few hours. The technical indicators favor bullish momentum, and the trading volume has surged by 600% in the last 4 days.
Technical Levels
Resistance: $1.50 & $1.80
Support: $1.10 & $0.80
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.