MNT

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.

https://twitter.com/lookonchain/status/1903978819574493560

🔹 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.

https://twitter.com/Mantle_Official/status/1902352224149500102

📌 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?

Mantle (MNT), the native token of Mantle Network, has seen a remarkable 13% surge in the past 24 hours. This surge has made it the top-performing crypto among the top 100 by market capitalization. Strengthening demand and rising investor confidence suggest that the bullish momentum may continue.

Rising Demand for Mantle (MNT)

According to on-chain data from Santiment, MNT’s Price Daily Active Addresses (DAA) Divergence metric has reached 54.67%, signaling strong demand. This metric highlights increased user activity, which could further drive MNT’s price upwards.

Additionally, MNT’s Network Realized Profit/Loss (NPL) stands at -131,000, indicating fewer profit-taking actions. The NPL metric measures the profit or loss realized when tokens are sold compared to their purchase price. A negative NPL suggests that most holders are selling at a loss, which may reduce sell-offs and support the ongoing rally.

Technical Analysis: Bullish Signals for MNT

A review of the MNT/USD one-day chart shows that the token’s recent surge has pushed it above the 20-day exponential moving average (EMA). The 20-day EMA tracks the average price over the last 20 trading days and provides a short-term trend outlook. When the price moves above this level, it is seen as a bullish signal, indicating a potential uptrend.

If the upward momentum continues, MNT could break the resistance level at $1.29 and aim for its all-time high of $1.51, last reached in April.

What’s Next for MNT?

Despite the current bullish outlook, a rise in selling pressure could reverse the trend. If sellers dominate, MNT’s price may decline to $1.11, invalidating the bullish trend.

Conclusion

Mantle (MNT) has shown strong performance driven by increasing demand and positive market sentiment. While indicators suggest further growth, investors should remain cautious of potential sell-offs that could impact the token’s price trajectory.