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Mantle’s Price at Crucial Support Level: What’s Next for MNT?

Mantle’s price hovers at $1. Can MNT break through key resistance and reach new highs? Find out more

3 min14 days ago

Highlights:

Mantle (MNT) price tests $1 support level, signaling potential bullish momentum ahead.

Key metrics show positive signs, including active addresses and growing total value locked.

MNT faces resistance at $1.16-$1.45 zone, with a potential target of $1.51.

Mantle’s Price at Crucial Support Level: What’s Next for MNT?

Mantle—MNT, a layer 2 scaling solution for Ethereum, recently tested the critical $1 mark. This came as Bitcoin and Ethereum faced steep losses, dragging down many altcoins. Despite the turmoil, MNT held strong. As the price stays around $1, traders are wondering if Mantle can maintain this support or if further drops will follow.

 

Analyzing MNT's Recent Gains 

 

 

MNT rose by 4%, reaching $1.06 in the last 24 hours. This came as both Bitcoin and Ethereum struggled to hold value. Even amid liquidations, MNT remained above $1. This signals potential for upward movement. 

 

If MNT can sustain this support, a run toward its all-time high of $1.51 is possible. Technical indicators also suggest a positive outlook. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show growing buyer interest. 

 

Key Network Metrics and Growing Community Support

 

Despite liquidations over $43,000 in long positions, open interest for MNT stands strong, with $33 million in open positions. This points to investor confidence.

Mantle’s total value locked (TVL) is another encouraging factor. 

 

Mantle’s total value locked is currently above $500 million, not far from its peak of $708 million reached in July 2024. A high TVL reflects strong support from the community, especially in decentralized finance (DeFi) protocols. 

 

Active and new addresses are also increasing as MNT’s price climbs from $0.95 to $1.06. With over 69% of holders now in profit, Mantle faces its next resistance zone between $1.16 and $1.45. Watch this range closely for signs of further price movement.

 

 

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