Mantle (MNT) Price: Is It Heading Toward $3 or Is the Red Light Zone Approaching?

• Mantle (MNT) is up 6%, currently hovering around $2.57.
• Its trading volume has surged by more than 61%.

The digital assets in the market are oscillating between green and red price ranges. With the broader neutral sentiment, the largest assets, Bitcoin (BTC) and Ethereum (ETH), are attempting to enter the upward track, currently trading at $121.6K and $4.3K. Among the altcoins, Mantle (MNT) has registered a 6.7% surge, trying to kickstart a steady rally

In the morning hours of October 9, the asset traded at a low of $2.37, and as the bullish pressure peaked, MNT tested and broke the crucial resistance between $2.42 and $2.80, and then the price likely climbed to a high of $2.85. The CMC data has reported that at press time, Mantle traded at the $2.57 mark

The market capitalization of MNT has touched $8.38 billion, with the daily trading volume of MNT having surged by over 61.15%, reaching the $856.26 million range. The Coinglass data revealed that the market has observed a liquidation of $6.28 million worth of Mantle in the last 24 hours

Riding the MNT Wave: How High Will the Bulls Take Mantle?

When the MACD line crosses above the signal line, it indicates a bullish signal. This crossover is considered a confirmation of strengthening bullish momentum within the MNT market. Besides, the CMF value of 0.04 suggests a mild bullish sentiment. Also, the capital is flowing into the asset rather than out, giving a cautious optimism rather than a strong uptrend for Mantle

*MNT chart (Source: TradingView)*Moreover, the asset’s BBP reading of 0.4899 implies a moderate bullish dominance. It is applying upward pressure on the MNT price, but the strength is not extreme. Mantle’s RSI of 71.76 signals its overbought territory. While the momentum remains strong, a slowdown in buying could trigger a short-term dip or sideways movement.

The current bullish setup hints that the market could be turning around after its recent slide. The Mantle price could move up to test the resistance level at around $2.64. With the emergence of the golden cross, the bulls may push it even higher. Upon a reversal, the bulls might fade and the bears appear. This might take the MNT price down to its former support at $2.50. More downside triggers additional losses

The recent trading pattern shows encouraging signs of bullish pressure in the MNT market. More upside may follow with the bulls gaining significant momentum. It is important to hold the bullish ground to avoid the entry of bears. For deeper insights into where MNT could be headed, explore our long-term forecast outlining the Mantle (MNT) Price Prediction across the years 2025 through 2030.

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