Mantle retreats after losing support near $0.55 amid market volatility: weekly analysis

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Mantle drops 19.23% this week

Highlights

MNT trades well below key medium- and long-term averages, confirming persistent selling pressure and weak technical support.
Momentum and trend indicators signal entrenched bearishness, with oversold conditions and sellers in firm control.
Volatility is elevated at 30.19%, with the price expected to fluctuate between $0.39 and $0.47 next week.

Trading volume surge and lost support as Bitcoin volatility fuels weakness

Mantle recorded a significant 44% surge in daily trading volume this week, indicating elevated selling activity as trading intensified. The asset also lost a support level around $0.55 that had held since early 2024, following increased market volatility influenced by Bitcoin. Broader crypto market weakness contributed to this environment.

Persistent downtrend and oversold signals as bearish momentum dominates

On the weekly chart, MNT remains well beneath its MA-20 and MA-50, highlighting a persistent downtrend with no meaningful support from these moving averages. Weekly oscillators, including the MACD and ADX, signal conditions ranging from bearish to neutral, while both RSI and CCI confirm oversold territory. Stochastic RSI remains pinned at zero, and Bull/Bear Power indicates sellers continue to control market momentum. Volatility is elevated at 30.19%, with the price at the lowest end of the week’s range and no divergence between oscillators and trend indicators.

Sideways bias expected with high volatility and rebound risk limited

Over the next 7 days, the likely trading range for MNT is $0.39 to $0.47, mirroring the currently high volatility. With all four tracked weekly indicators remaining bearish, the baseline scenario expects sideways action just above the recent lows. There is less than a 20% chance of a rebound, but any relief in oversold conditions could drive a short-term rally toward $0.47. If downward momentum persists, MNT may breach the $0.39 mark as sellers retain control.

Sholanke Dele, market strategist, views this week’s sharp drawdown in Mantle as more evidence of deepening bearish sentiment and fading confidence across crypto. He notes a decisive loss of the $0.55 support and persistent seller dominance, with volatility staying elevated and technicals showing MNT at oversold levels but with no sign of reversal. Dele remains cautious for the coming week, expecting the asset to drift sideways or even breach fresh lows unless sellers lose control. "As long as Mantle stays under key moving averages and below $0.47, I see little reason for optimism this week."

Earlier, analysts noted that Mantle was experiencing persistent bearish momentum and faced heightened downside risk amid accelerating sell activity. The ongoing alignment of technical and sentiment indicators with this view suggests traders should closely monitor the $0.39 level over the coming week, as a decisive drop below this threshold could open the way for additional declines.

Source of Data: MNT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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