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bonk
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bitcoin
Bitcoin (BITCOIN)
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ethereum
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binancecoin
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solana
Solana (SOLANA)
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ripple
XRP (RIPPLE)
$2.87 -0.51%
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Mantle Price Hits Record Highs as Monthly Volume Hits ATH

Highlights:

  • The Mantle price continues to set record highs, surging 5% to $2.45.
  • Over $11.7 billion in volume was recorded for the MNT token in September, indicating increased market interest.
  • Mantle bulls sight $3 level, as technical indicators flip bullish.

The Mantle price is setting new highs, surging 5% to $2.45. Despite the surge, its daily trading volume is down 9% to $542 million, showing declining trading activity. Mantle is winning over user creativity through innovative marketing campaigns with the dynamic $MNT token.

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Currently, there’s a campaign to “Design Your $MNT Pass” to get a chance at a piece of a $500 $MNT prize pool. This comes with colourful, customizable creations that are trending on social media, allowing users to showcase their crypto loyalty and personal style within an ever-growing ecosystem surrounding it.

The news comes after the crypto and blockchain community sought to engage on an artistic level with a decentralized platform. By allowing users to engage with the larger $MNT token ecosystem as they unleash their creative juices, Mantle integrates art and design with blockchain rewards. In turn, those looking to showcase their creativity and earn some real cash find the intersection appealing.

Moreover, the growth of $MNT has been tremendous, with massive daily volumes. According to recent updates, over $11.7 billion in volume occurred in September, marking the highest number for any month of the $MNT token. Such volume suggests massive adoption and interest within the DeFi spaces.

Mantle Price Spikes Out in a Parabolic Curve

The MNT/USDT daily chart indicates that the token is trending above the 50-day Simple Moving Average (SMA) at $1.55 and the 200-day SMA at $0.94. The Mantle price is trading above both MA’s, tilting the odds towards the bulls. Moreover, the MNT price has spiked out in a parabolic curve, reinforcing the intense bullish outlook. With the recent spike and support zones holding strong, Mantle price could continue the upside movement. 

Mantle price
MNT/USD 1-day chart: TradingView

Zooming in on the indicators, the Relative Strength Index (RSI) stands at 71.38, indicating strong buying momentum. Further, its position at over 70 cautions traders of a potential pullback. The Moving Average Convergence Divergence (MACD) shows an uptick with the MACD line (blue) turning upwards, a classic signal of a bullish grip. Zooming in on the chart, the Mantle price broke out around $1.55-1.83, suggesting that the bulls are in control. If the breakout momentum holds, the target could push toward $2.80 or even $3.00 soon.

The lower support zone, ranging from $1.55, has remained strong, serving as a safety net for dips for some time now. Looking ahead, the 110% monthly gain indicates that MNT is riding the current bullish crypto wave, possibly fueled by broader market hype. If it maintains the current trend with conviction, the next stop could be $3-$3.50 in the mid-term

However, as the RSI spills into the overbought territory and profit-taking kicks in, it could trigger a dip back to $2.09 if the bears increase pressure. In the long term, breaking $3.00 would be a game-changer, putting Mantle’s price back in the spotlight.

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