Mantle price forecast: Selloff puts $0.5709 support in focus

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Mantle drops 8.46% today to $0.59

Highlights

Mantle has expanded its utility within the Bybit ecosystem, serving as a settlement layer and powering DeFi and tokenization activities.
These infrastructure enhancements have broadened Mantle's use cases, though selling pressure on price has persisted.
MNT/USD trades below key moving averages with negative momentum signals, expected to remain between $0.5709 to $0.6189 and at high risk of further decline.

Mantle's utility grows on Bybit as DeFi functions expand

Mantle's role as part of Bybit's settlement layer and its operation of a layer 2 network with integrated yield products and tokenized assets, as reported by Diariobitcoin, have expanded its core transactional and utility functions. This integration increases Mantle's presence within the Bybit exchange ecosystem, supporting a range of DeFi activities and tokenization use cases. These developments remain part of the ongoing infrastructure improvements, though price action has remained under broader selling pressure.

Bearish technical signals persist as sellers control momentum

On the hourly chart, MNT/USD trades below both the MA-20 at $0.6115 and MA-50 at $0.6241, with MA-200 providing longer-term support at $0.5752. The daily Ichimoku Kijun at $0.6246 marks immediate resistance. Momentum indicators are aligned to the downside: both MACD and ADX confirm bearish bias, while RSI at 31.95 and CCI both signal Sell. Bull/Bear Power also reads Sell, reflecting continued seller dominance in the intraday session. Stochastic RSI and Awesome Oscillator are both Neutral, showing no clear reversal momentum yet.

Further downside risk elevated amid range-bound price action

Over the next 2-3 trading days, MNT/USD is expected to move within a range of $0.5709 to $0.6189, reflecting the typical volatility band relative to current levels. The probability of further downside is high, with low likelihood of an immediate reversal. If price stabilizes, a sideways scenario between support and resistance could persist. A bullish scenario would require a breakout above $0.6246, while sustained selling beneath $0.5709 would expose the pair to deeper declines.

Anton Kharitonov, expert at Traders Union, sees persistent selling and weak technicals dominating the short-term picture. He notes that Mantle's integration with Bybit adds infrastructure value but is not translating into demand. Bearish momentum remains strong, and key resistance levels stand firm. "Until MNT reclaims $0.6246, I remain defensive and see little reason to try catching a reversal here."

Earlier, analysts noted that Mantle was showing robust bullish momentum, supported by technical strength above key averages and increased utility from ecosystem integration. The current deterioration below major moving averages now signals a bearish shift, with traders advised to closely monitor the $0.5709 support for potential breakdown risk in the days ahead.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.