The cryptocurrency market continues displaying mixed price sentiment with top altcoins stumbling around their important support and resistance levels. However, the Mantle price has sailed against the market odds by successfully recording a bullish price action.
With the rising uncertainty in the crypto space, investors are concerned with questions like is this a good time to invest in altcoins before the AltSeason kicks in? In this article, CoinPedia’s expert panel has uncovered the possible short-term Mantle Price Analysis just for you.
MNT Price Retests Its Important Resistance Level!
After recording a strong bearish price action for a brief period, the Mantle price recorded a strong bullish recovery overnight. Notably, the altcoin has jumped ~4% in 24 hours with a trading volume of $121.49 million. Moreover, it has a market cap of $3.557 billion and a dominance of 0.1157%.
The Simple Moving Average (SMA) records a bullish convergence in the daily time frame. This suggests an increase in the buying-over-selling pressure for the altcoin in the crypto market.
Furthermore, the RSI indicator witnesses a sharp rise toward the neutral point in the Mantle price chart with its average trendline displaying a similar price trend. This indicates a bullish outlook for the 33rd largest crypto token this week.
Will Mantle Price Rise Back Up?
Suppose, the market continues favoring the bulls, this could result in the Mantle price retesting its important resistance level of $1.0750. Holding the price above that level could push the price toward its upper high of $1.2730 this month.
On the contrary, if a bearish trend reversal occurs, the MNT coin price may retest its support level of $0.9150. Furthermore, if the bears outrun the bulls, this could pull the price toward its low of $0.7625 in the upcoming time.
Are you one of many who are planning on investing in the MNT crypto token before it achieves a new ATH? Read CoinPedia’s latest Mantle Price Prediction today to uncover the long-term possibilities!
FAQs
Considering the present market sentiments, the MNT price could range between $0.90 and $2.31 this year.
With increased adoption, the MNT coin price could reach a maximum trading value of $10.22 by 2030.
At the time of writing, the value of one MNT crypto token was $1.0665.
