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- In the last 30 days, Mantle crypto has advanced by 20.7%.
- The market cap rank of the Mantle has advanced to 45th as per Coingecko.
Mantle Network is a Layer-2 solution for Ethereum that improves scalability and data availability. $MNT is its native token, used for governance, fees, and staking. Mantle Network is a migration of BitDAO and has a community-driven development.
The volume of the Mantle crypto has shown a good spike of 82% in the last 24 hours, which shows that the activity in the crypto is increasing. This could be a sign of Mantle attracting traders and investors due to some significant activity going on in it.
Despite the huge advance in the volume, the market cap of the crypto is flat, showing a small change of 1.63% resulting in 1.887B. Also, the volume/market cap ratio of the crypto is 3.16%.
The current circulating supply of Mantle is 3.133B MNT and the total supply of the crypto is 6.219B MNT, followed by a fully diluted market cap of $3.748B. Also, the Mantle currently has 10.1K holders for its token followed by a total transfer of 46.3K as per Etherscan.io.
Mantle Derivatives Analysis
The open interest of Mantle crypto has slightly advanced by 8.5% in the last 24 hours followed by an advance of 17.8% resulting in $4.89M. The current long/short ratio of the MNT crypto is 1.0781. The short liquidation for the crypto is null in the last hours, which shows that buyers are dominating the trend.
MNT Crypto Technical Analysis
The MNT crypto price is consistently advancing to higher levels forming a higher high swing on the charts. The following behavior of the price has formed an expanding wedge pattern, which already is a bullish pattern. Therefore, unless the price of the MNT crypto breaks below the wedge pattern, the price of the crypto might continue to advance.
MNT/USD Chart by TradingView
The RSI on the daily chart of MNT crypto has declined from the overbought zones to the level of 57.72. It also has broken down below the 14-day SMA while it is sustaining above the 50-level. The following behavior of the indicator shows that the bullish momentum is still left in the momentum of the Mantle crypto price.
The Bollinger Band is also bullish as the Mantle coin price is trading above the median line. Moreover, the EMAs are also trading in a golden cross on the charts followed by the crypto price trading above the 50-day and the 200-day EMA.
Conclusion
MNT crypto price is on a strong uptrend, breaking out of an expanding wedge pattern. The crypto has high volume, market cap, and demand, reflecting its potential and popularity. Mantle Network is a scalable and secure Layer-2 solution for Ethereum. MNT is a promising investment option for the future.
Technical Levels
Support Levels: $0.46160 and $0.5580
Resistance levels:$0.6560 and $0.800
Disclaimer
This article is for informational purposes only and does not provide any 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.
