- Mantle surged 9% in 24 hours, but technical analysis suggests traders expect a pullback.
- Key resistance at $0.88225, while support at $0.65979 is critical—failure to hold could trigger declines toward $0.57616 or lower.
Mantle has experienced a remarkable 9% price surge in the past 24 hours, heading in the upper direction. However, EMAs negatively intersected and displayed a death crossover, which is a negative sign.
Mantle price is marching toward the 50-EMA at $0.8822. It may act as an immediate hurdle for the buyers. However, if the buyers succeed in snatching the control from the sellers, investors may witness a fresh rally in the upcoming days.
However, the trading view technical summary points to negative sentiments. As per the technical summary of Mantle crypto, out of 25 indicators, 10 are on the sell side, 8 are on the neutral side, and 7 are on the buying side, suggesting bearishness.
As per the Trading view data, the MNT price has been in bearish momentum for a prolonged time. Over three months, it declined by 36.17%, and last month it decreased by almost 23.20%, indicating sellers’ dominance.
According to CoinMarketCap data, at the time of writing Mantle price is trading at $0.79345 with an intraday surge of 9% indicating mild bullishness. The daily trading volume has surged by 52% suggesting buying momentum currently at $74.32 million.
MNT price performed well in the last few days and grew 12.09% this week. However, it will be interesting to see whether the Mantle price continues the momentum in the upcoming days.
Source: Tradingview
The 50-day and 200-day EMA are heading downward, suggesting a bearish trend. The price’s incapability to break above these key EMAs suggests that bulls need stronger momentum to reverse the trend.
The RSI curve is currently at 48.66, which is slightly below the neutral level of 50. This indicates that momentum is neither strongly bullish nor bearish.
The Mantle resistance level is at $0.88225, while the support level is at $7.71. If the price breaks the current support level then MNT might witness further downside.
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