Mantle’s native token, MNT, has broken out of a downtrend after a $3 million investment from World Liberty Financial (WLFI). This surge has renewed investor interest and fueled speculation about MNT’s next price target.
Why Did Mantle (MNT) Surge?
On March 24, WLFI, a DeFi project linked to Donald Trump’s family, purchased 3.54 million MNT for $3 million USDC at an average price of $0.84, according to Lookonchain and Arkham Intelligence.
🔹 WLFI now holds 5.99 million MNT, valued at $5.06 million.
🔹 The firm’s total crypto holdings exceed $81.8 million, including ETH, WBTC, TRX, LINK, AAVE, and ENA.
Mantle Network & Its Recent Developments
Mantle Network is a Layer 2 solution designed to scale Ethereum efficiently. MNT is used for gas fees and governance participation.
📌 March 19: The Mantle Mainnet hard fork introduced EigenDA, a decentralized data availability layer. This upgrade allows more transactions per block and improves Ethereum’s upcoming Pectra upgrade compatibility.
📌 Mantle Surge Campaign: A joint initiative with Bybit, featuring a 1 million MNT prize pool for participants engaging with Mantle ecosystem projects.
These advancements have boosted confidence in MNT, leading to its recent price rally.
MNT Breaks Out of Downtrend—What’s Next?
Following WLFI’s buy, Mantle jumped 8.5% to $0.849, with its market cap surpassing $2.83 billion. Trading volume spiked 66% to $123 million, signaling increased investor interest.
📈 MNT broke out of a descending parallel channel formed since March 17.
📉 The token bottomed at $0.775 on March 21 before rebounding.
Analysts believe MNT’s bullish momentum could push prices higher.
Can MNT Reach $0.90? Analysts Weigh In
🔸 Key Resistance: $0.90 is a crucial psychological level for MNT. If it breaks past this, the next target is $1.27, a level it failed to surpass twice this year.
🔸 Key Support: Holding above $0.80 is critical for further upside.
💡 Technical Indicators:
✔ MACD lines point upward, signaling bullish momentum.
✔ Aroon Up (85.71%) vs. Aroon Down (35.1%) suggests strong buyer dominance.
⚠ RSI at 75 is in the overbought zone, hinting at a possible short-term pullback.
Final Thoughts
Mantle’s recent rally and strong technical setup suggest further gains if key resistance levels are broken. However, traders should watch for potential pullbacks due to overbought conditions.
At press time, MNT trades at $0.844. Will it break $0.90, or is a correction ahead?
