The $0.60 support held: End of the correction for Mantle?
The crypto market is experiencing renewed volatility, and Mantle (MNT) is no exception to this rule. After testing the strength of its range bottom at $0.60, the token has initiated an impressive rally. Currently trading around $0.79 with approximately 2% gains over the last 24 hours, MNT is showing clear signs of recovery. This rebound comes in a context where investors are looking to position themselves on altcoins with solid fundamentals, capable of outperforming during bull run phases.
If the overall crypto market trend continues, MNT could return to the top of its range toward $1.5 in the coming weeks.
Moreover, the MACD is beginning to print green histograms, confirming this renewed strength in the market. This movement is accompanied by increasing volumes, proving that institutions and whales are accumulating the token at these price levels. If this momentum sustains, MNT could quickly transform its former resistances into new solid supports.
How high can Mantle (MNT) price soar after this rebound?
The real test for buyers now lies in the intermediate resistance zone at $0.80. A daily close above this level would validate a major breakout, opening the path toward the highly coveted target of $0.93. The psychological barrier of $1 will also be a critical point that could trigger profit-taking.
At the time of writing, numerous shorts have positioned themselves at $0.82, above MNT’s current price. Traders are therefore still favoring the scenario of a false rebound. However, if BTC continues to maintain its upward momentum, the short squeeze could be violent for MNT.
Conversely, caution is warranted regarding a potential retracement. If MNT fails to break through $0.80, consolidation or even a bearish rejection could bring the price back to test the $0.70 zone. Do the bulls have enough fuel to sustain this rally and close the deal above $0.93 in the coming days?
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