- Mantle gained 6%, hovering at the $1.25 mark.
- MNT has climbed 62% on the monthly price chart.
The digital assets within the market have chosen to oscillate between green and red zones, with the broader neutral sentiment. The largest assets, like Cronus, Pump.fun, and Raydium, have emerged as the top three gainers on the list. Bitcoin (BTC) and Ethereum (ETH) are attempting to step into the bullish phase.
Within the crypto market, Mantle (MNT) has recorded a 6.91% surge and is trying to kickstart a steady bullish momentum. In the early hours of August 28, MNT traded at its low point of $1.17. As the bulls stepped in, the price rose toward a high of $1.28. The asset has tested the vital resistance range between $1.21 and $1.24.
The CoinMarketCap data has reported that at press time, Mantle traded within the $1.25 mark, with the market capitalization touching $4.08 billion. Besides, the daily trading volume of MNT is up by over 12.52%, reaching the $462.86 million range.
Zooming in on the thirty-day price chart, MNT has surged by over 62.31%. Mantle’s monthly low was noted at around $0.68, and with the bullish shift, the asset’s price has moved upward to the top of the line at the $1.39 level.
Will the Bulls Continue to Push Mantle’s Price Up?
The Moving Average Convergence Divergence (MACD) line of Mantle is situated above the zero line, while the signal line remains below zero. The momentum is moving from bearish to bullish — an early sign of strength. But only a clear crossover above zero would confirm the uptrend.
MNT chart (Source: TradingView)
Moreover, the capital is flowing into the asset with the Chaikin Money Flow (CMF) indicator of Mantle found at 0.06. It implies a mild buying pressure in the market but not a major surge in demand. This is a cautious bullish signal, and a rise closer to 0.2 or higher is needed for stronger confirmation.
With Mantle’s uptrend, the price might move up to the key resistance at the $1.30 range. Further bullish correction will provoke the golden cross to emerge, which the bulls could likely send the price above the $1.35 mark.
Conversely, if the bears take command over the asset, it could immediately slip to the $1.20 support. Mantle’s solid correction on the downside might activate the death cross, leading the price to fall steeply below $1.15.
MNT chart (Source: TradingView)
Mantle’s daily Relative Strength Index (RSI) value of 58.49 specifies moderate bullish sentiment. This is a healthy uptrend, a balance between buyers and sellers. Furthermore, the Bull Bear Power (BBP) reading of 0.1080 signals that the bulls are dominant, with the price trading above. If the value keeps rising, the stronger the bullish momentum is.
