MNT faces continued pressure with RSI signaling oversold levels: weekly report

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Mantle falls 2.20% this week

Highlights

MNT remains in a strong downtrend, trading well below key moving averages and facing persistent selling pressure.
All major momentum and oscillators indicate oversold conditions, with sellers retaining control and trend strength remaining weak.
Expected weekly price action is rangebound between $0.3700 and $0.4550, with a low probability of near-term upside.

Bearish momentum persists as oversold signals and weak trend dominate

All major weekly indicators signal persistent bearish momentum in MNT, with the price trading below key dynamic resistance at the MA-20 ($0.5932) and long-term resistance at the MA-50 ($0.9590). Weekly support is identified near $0.3700, while resistance is capped at $0.4550 by recent highs and the MA-20. Momentum oscillators, including RSI, Stochastic RSI, and CCI, all indicate oversold conditions, with weekly RSI trending weak and the MACD, Bull/Bear Power, and Awesome Oscillator all confirming downward pressure. The ADX suggests the trend strength is weak, and weekly volatility stands at 6.68%.

Sideways bias favored for next week as rebound odds remain low

The forecast for MNT over the next 7 days anticipates continued sideways movement within a probable range of $0.3700 to $0.4550, based on persistent bearish momentum and elevated volatility. A decisive move above $0.4550 would improve the probability of a short-term technical rebound, while a break below $0.3700 would likely trigger further declines toward the yearly low. The probability model indicates less than a 20% chance of a price increase during the upcoming week, as all four key W1 indicators continue to show no Buy or Strong Buy signals.

Anton Kharitonov, expert at Traders Union, sees that Mantle (MNT) remained under strong selling pressure this week, firmly trading below its key weekly moving averages. He notes that all major indicators, including RSI and MACD, confirm persistent bearish momentum and oversold conditions. With resistance at $0.4550 and support near $0.3700, Kharitonov believes the probability of a meaningful rebound in the coming week is low. The analyst highlights that weekly volatility remains elevated and the trend strength is weak, discouraging attempts at early recovery. He remains defensive given the absence of buy signals across all key indicators. "Until MNT decisively reclaims $0.4550, I see no basis for optimism and prefer to remain on the sidelines this week."

Earlier, analysts noted that Mantle was experiencing persistent bearish momentum and remained under pressure from sellers amid a lack of bullish catalysts. The latest technical signals reinforce this view, with traders advised to monitor the $0.3700 support level as a potential trigger for further downside moves.

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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