Mantle has surged 20.02% as bullish momentum continues to drive the price upward. The market structure remains firmly intact, suggesting further upside is possible if current support levels hold.
Summary
- MNT broke above the value area high after respecting $0.57 support, sparking a 20% rally.
- Market structure remains bullish with rising volume and trend continuation.
- If momentum holds, $1.22 is the next likely resistance target.
Mantle (MNT) has shown significant strength after respecting key high time frame support, rallying past the upper boundary of its established trading range. This move has pushed price action above the value area high, and if it holds this level on a closing basis, further continuation into untested resistance zones becomes increasingly probable.
Key technical points
- Breakout Level: Value area high reclaimed, confirming bullish momentum.
- Support Origin: $0.57 value area low held as high time frame support.
- Next Resistance Target: $1.22 high time frame resistance if current structure holds.
The recent 20% move in MNT represents a significant shift in sentiment and momentum. From a structural perspective, the bullish trend began when the value area low at $0.57 held firm on multiple high time frame retests. This support zone acted as a base for accumulation, setting the stage for the current leg higher.
As price action moved upward, it reclaimed the value area high, breaking through the upper boundary of its prior trading range. This level often acts as a filter for trend continuation. A close above it confirms market acceptance at higher prices, opening the door to further upside movement.
Volume also supports this rally, with bullish participation rising as price continued to break through resistance. This reinforces the strength of the move and validates the breakout as more than just a short-term spike. The price is now in open territory with limited resistance until the next high time frame level at $1.22.
Structurally, MNT is continuing to post higher highs and higher lows, the hallmark of a sustained uptrend. If the current bullish structure holds and price remains above the value area high, the next swing high will likely be taken out, creating an opportunity for continuation toward new resistance zones.
The lack of significant overhead resistance between the current price and $1.22 suggests that if bulls can maintain control, the rally could extend in a relatively smooth fashion. Traders should keep a close eye on volume and candle closes above the reclaimed range high for confirmation.
Should price fail to hold above the value area high, a pullback toward prior support levels is possible. However, the broader bullish structure would still remain intact unless $0.57 is lost, which currently appears unlikely given momentum and volume trends.
What to Expect in the Coming Price Action
If MNT holds above the value area high, a move toward $1.22 becomes the next probable objective. Continuation is favored while bullish volume supports the trend and market structure remains intact.
