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- 1 Mantle crypto price decreased by 8.43% over the past seven days.
- 2 Mantle crypto price is currently trading at $1.0955 with a rise of 0.60% in the last 24 hours with a current market cap of $3.57 Billion.
Sellers have been exerting significant pressure on the charts of the Mantle crypto, leading to its weakness in recent trading sessions. The chart structure shows bears are in control. The price is forming doji candles, which indicates a battle between bulls and bears.
As of now, the Mantle crypto trades at $1.09655 and has an intraday gain of 64%, which is a sign of bearishness. While buyers are trying to gain ground in the market, they have only been able to secure a few key levels of support. Additionally, the intraday trading volume has increased to 38.54 million. Mantle crypto could experience volatility is expected in the coming sessions.
MNT has been trading in a downtrend on the daily charts and has underperformed in the past few months. The technical indicators continue to signal bearishness, and there are no signs of a bullish reversal or bounce happening below the lower range.
Technical Analysis of the Mantle Cryptocurrency
Mantle crypto (USD: MNT) is currently trading above the 20 and 50-day exponential moving averages (EMAs), but these EMAs are not providing support for the price trend. If selling volume increases, the price may break through the supporting simple moving averages (SMAs) by creating lower highs and lows. As a result, the MNT price is expected to decline, indicating a bearish outlook on the daily time frame chart.
The relative strength index (RSI) currently stands at 44.93 points. The 14 SMA is above the median line at 48.12 points, indicating that the Mantle crypto is bearish.
The MACD line is at -0.012889246, and the signal line is at 0.00495273, both above the zero line. The MACD indicator shows a bearish crossover, signaling further bearishness for the MNT crypto price.
Short Time Frame Analysis
The Mantle token is currently being controlled by the sellers on the 4-hour charts, and the buyers are unable to break through the neutrality range. The price movement suggests that the bears are continuously resisting the bulls below the lower trajectory, leading to a decline in the gains from the top.
The relative strength index (RSI) curve is in proximity to the neutral range of 50, indicating negative divergence and bearishness on the charts.
The MACD indicator also signals neutrality, with both moving averages converging, suggesting a significant move in the upcoming sessions.
Summary
The Mantle crypto is experiencing weakness in recent trading sessions due to significant pressure from sellers. The chart structure favors the bears, and the crypto is currently forming doji candles, indicating a battle between bulls and bears. The MNT crypto is trading at $1.09655, with an intraday gain of 64%, which is a sign of bearishness. The technical indicators continue to signal bearishness, and there are no signs of a bullish reversal or bounce happening below the lower range.
Technical Levels
Support Level: $0.84915863.
Resistance Level: $1.49748439.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
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.
