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- 1 MNT token price showcased a sharp surge and crossed the $1 mark.
- 2 Buyers are showing their dominance and aggressively directing a rally.
The Mantle token (MNT) witnessed a sharp buying momentum and a notable surge over 40% was noted in the intraday session. Moreover, the token has crossed the $1 mark with a sharp spike in the trading volume. The price action showcased higher high swings and a massive bounce from the 20-day EMA mark was delivered. However, the token needs to attain follow-on buying action to meet the $2 mark. In the previous session, the token has made a fresh ATH (all time high) mark of $1.32 and is trading in uncharted territory.
At press time, the Mantle token (MNT) price was trading at $1.33 with an intraday gain of 40.38%, reflecting intense buying momentum on the charts. It has a monthly return ratio of 43.20% and 125.90% on a yearly basis. The pair of MNT/BTC is at 0.0000188 BTC, and the market cap is $2.42 Billion. Analysts are bullish and suggest that MNT price may continue to extend the gains and will reach the $2 mark soon.
Mantle Price To Volatility Reveal Bullishness
The above data showcased the price to volume profile data which conveys massive long buildup activity, and the trading volume reflects a sharp spike of over 87.90% to $501.22 Million. The data indicates strong buying momentum and the sellers looked trapped, leading to a short covering rally.
Price Volatility and Sentiment Analysis
Following the price surge, the price volatility reflected an intense spike and the value surged over 28% to 0.023. Similarly, the weighted sentiment also noted a positive stance and the value spiked to 0.245.
The relative strength index (RSI) curve stayed in the overbought zone and formed a positive crossover reflecting the outperformance on the charts.
Social Dominance and Social Volume AI
The social dominance data shows a sharp 350% surge to 0.089%, indicating positive investor interest. Similarly, the social volume AI showcased steady movements, noting around 5.
Development Activity and Total Amount Of Holders Overview
Per the Santiment data, the development activity noted a spike and the value soared to 21.48, signifying the investor willingness and demand for the MNT token.
Per the Fibonacci retracement levels, the MNT token has crossed the 61.8% zone with a sharp volume spike and price has escaped the upper bollinger band.
The total supply of the Mantle token is 6.22 Billion and the volume to market cap ratio is 0.226. The token stands at 53, per the global ranking based on the market cap.
Summary
The Mantle token (MNT) price signifies sharp volume buying activity leading to a fresh ATH mark of $1.38 in the last session. Moreover, the aggressive buying momentum reflected the investor interest and their willingness for the token which is a positive sign.
Technical Levels
Support Levels: $1.20 and $1
Resistance Levels: $1.40 and $1.70
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
