Will Mantle hold support as selloff pressure weighs on momentum?

Traders Union
All News
Crypto
Mantle drops 7.01% today to $0.5945

Highlights

Mantle trading volumes have increased substantially, indicating high market participation and liquidity.
This surge in volumes has occurred as overall market conditions remain weak and selling pressure prevails.
Mantle trades below key short- and medium-term moving averages with technical signals skewed negative, forecasting a 0.5702 to 0.6188 range with 65% probability of further downside.

Liquidity surge intensifies volatility as buyers and sellers clash

Trading volumes for Mantle have notably increased, indicating substantial market participation and liquidity, according to Diariobitcoin. Elevated volumes can contribute to heightened volatility and may reflect intensified interest from both buyers and sellers. However, these developments have occurred even as the broader market context has not provided sufficient support to counteract prevailing selling pressure.

Weak momentum prevails as price holds above long-term support

On the hourly chart, MNT trades below the MA-20 at $0.607 and MA-50 at $0.6133, while remaining above the MA-200 at $0.5725. Immediate resistance sits at the Ichimoku Kijun level of $0.6158. Momentum signals remain weak, with both MACD and ADX indicating a sell bias. RSI is at 42.622 and points negative, while Stochastic RSI and CCI are neutral, showing no oversold extremes. Bull/Bear Power signals bearish intraday dominance for sellers, and the Awesome Oscillator adds no counter-signal.

Downside risk dominates as price remains rangebound within set band

In the short term, Mantle is forecast to fluctuate between $0.5702 and $0.6188 over the next two to three sessions. With a 65% probability assigned to further downside and only a 35% chance of a move higher, a recovery appears less probable. The baseline view is for price to remain rangebound within this band. Should price break above $0.6158, additional gains may follow, while a drop below $0.5702 would reinforce current selling momentum.

Viktoras Karapetjanc, expert at Traders Union, sees Mantle facing persistent selling pressure despite surging trading volumes and visible market interest. He notes the asset maintains some resilience above the MA-200, but technical momentum is weak and rangebound action dominates. The broader market is not providing the support needed for a sustained turnaround yet. In his view, confidence could return quickly if resistance is cleared. "If Mantle can reclaim $0.6158 on strong volume, I believe we may see renewed bullish sentiment and upside momentum."

Earlier, analysts noted that Mantle was exhibiting a bullish technical structure supported by positive momentum indicators. The latest market action signals a shift, with sellers now exerting dominant short-term control and $0.5702 emerging as a critical level for assessing immediate downside risk.

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.