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- 1 The Mantle token price signifies an upward trend and is looking bullish.
- 2 Buyers have persisted in accumulation and are eyeing the $2 mark.
The MNT price has decisively sustained gains above the $1 mark and delivered bullish waves on the charts. Moreover, the trend is bullish, and the token has held gains above the significant moving averages. Amidst the market downturn, the Mantle token price could not lose gains and remained on a bullish trajectory. Until the support zone of $1.100 is breached, the trend will remain bullish, and the token will resume the upward movement in the following sessions.
At press time, the Mantle token (MNT) price was trading at $1.37 with an intraday gain of 2.15%, reflecting bullishness on the charts. It has a monthly return ratio of 36.30% and 140.37% on a yearly basis. The pair of MNT/BTC is at 0.0000197 BTC, and the market cap is $2.45 Billion. Analysts are neutral and suggest that the MNT price may continue to deliver outperformance and reach the $2 mark soon.
MNT Price-to-Volume Profile On Daily Charts
The above chart showcased the price-to-volume profile of the Mantle token, revealing a bullish trend on the charts. The price action signifies the buyers’ accumulation. It persisted in extending the up move and is decisively sustaining gains above the $1 mark. However, the intraday trading volume dropped by 42.78% to $68.94 million.
Price Volatility and Weighted Sentiment Outlook
Following the price surge, the price volatility data signifies an up move and remained close to the neutral zone near 0.016, implying neutrality. However, the weighted sentiment value remained below the midline, at around -0.075.
Social Dominance and Twitter Followers Overview
Per the Santiment data, the social dominance value data noted a down move, slipping over by 3.90% to the 0.037% mark. Similarly, the Twitter followers data dropped over 23%, which was noted around -1663.
Development Activity and Active Addresses Analysis
The above data showcased that the development activity noted a decline of over 5% and dropped to 20.52 this week. However, the active addresses data signifies average movements around the 352 mark, implying neutrality.
Per the Fib levels, the MNT price has traded near the 61.8% zone and has sustained gains in the bullish region. The RSI curve was sustained in the overbought region, and a positive crossover was witnessed on the charts. Furthermore, the MACD indicator depicts green bars on the histogram, and a bullish crossover was noted.
The total supply of the Mantle token is 6.22 billion, whereas the volume-to-market cap ratio is 0.0283, which stands at 49 per the market cap in the global crypto market.
Summary
The Mantle token replicates outperformance and remains in the bullish region, above the key moving averages. The trend is bullish, and the token may persist in stretching the up move and will reach the upside of the $2 mark soon.
Technical Levels
Support Levels: $1.20 and $1
Resistance Levels: $1.80 and $2
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
