Mantle (MNT) Can Revisit $1 Mark: Can Bulls Conquer The Battle?

The price action data indicated a fresh buying momentum, and the token price triggered a rebound and attained follow-on buying.

Mantle (MNT) price analysis showcases a demand zone breakout and a double-digit recovery. MNT price is up by 9.36% in the past 24 hours and is trading at $0.856. The token price encountered buying momentum and a breakout from the 200-day EMA mark.

The MNT token is eyeing to revisit the round $1 mark and set for a potential reversal. Once it breaches its primary hurdle of $0.9000, it will sharply sprint forward and retain the bullish momentum ahead.

Mantle at Press Time

At press time, the MNT price was trading at $0.856 with an intraday surge of 9.36%, reflecting buying momentum on the chart. It has a monthly return ratio of 6.30% and 49.20% yearly, reflecting short-term consolidation.

The pair of MNT/BTC was at 0.0000134 BTC, and the market cap was $2.81 Billion. Analysts were neutral and suggested that the MNT price could register a breakout and retain the $1 mark.

Regarding the market cap, the MNT token ranked at 37 and had a total supply value of 6.22 billion.

A glance at the 4-hour MNT price chart reveals a demand zone breakout and a double-digit recovery. The MNT token price encountered buying momentum and a breakout from the 200-day EMA mark.

The token price triggered a rebound and attained follow-on buying. For the past two weeks, buyers have continued closing above their previous day’s highs, which conveyed strength in the bull.

If the sellers do not breach the downside mark of $0.8000, the short-term reversal momentum will remain intact. Also, a further glimpse of recovery can be seen ahead.

Amidst the lower low swings, the token moved out of its lower trajectory and was on the verge of trapping the seller army. A major inclination can be seen once the $1 mark breaches.

The Social Dominance data conveyed that significant chatter among the investors was on the cards about the upcoming breakout. Additionally, speculative moves were observed on the chart.

Meanwhile, the weighted sentiment data highlighted a downtick and declined by 2.30% in the past hours, implying a negative outlook.

The RSI curve showed a sharp vertical spike revisiting the overbought zone, and a positive crossover noted on the chart. Likewise, the MFI index showed the buying pressure was intact.

When writing, the short liquidations were $21.54k, whereas the long liquidations were $4.30k. That means the Bulls have outpaced the Bears, and a significant reversal might be seen.

The immediate support levels for the MNT token were $0.8400 and $0.8300 at press time. The key upside hurdles were around $0.9200 and $1.

Speculative Move On the Social FrontThe price action data indicated a fresh buying momentum, and the token price triggered a rebound and attained follow-on buying. For the past two weeks, buyers have continued closing above their previous day’s highs, which conveyed strength in the bull.

If the sellers do not breach the downside mark of $0.8000, the short-term reversal momentum will remain intact. Also, a further glimpse of recovery can be seen ahead.

Amidst the lower low swings, the token moved out of its lower trajectory and was on the verge of trapping the seller army. A major inclination can be seen once the $1 mark breaches.

The Social Dominance data conveyed that significant chatter among the investors was on the cards about the upcoming breakout. Additionally, speculative moves were observed on the chart.

Meanwhile, the weighted sentiment data highlighted a downtick and declined by 2.30% in the past hours, implying a negative outlook.

The RSI curve showed a sharp vertical spike revisiting the overbought zone, and a positive crossover noted on the chart. Likewise, the MFI index showed the buying pressure was intact.

Total Liquidations ChartWhen writing, the short liquidations were $21.54k, whereas the long liquidations were $4.30k. That means the Bulls have outpaced the Bears, and a significant reversal might be seen.

The immediate support levels for the MNT token were $0.8400 and $0.8300 at press time. The key upside hurdles were around $0.9200 and $1.

MNT Bulls Are OptimisticThe MNT token price climbed above the 20-day EMA mark and reached its most vital resistance hurdle of $0.8800. Once it crossed, significant bullish traction activity might be seen.

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