Mantle (MNT) has made an impressive entrance into the crypto world, reaching an all-time high of $1.51 and securing a market cap of $4.8 billion. This surge has propelled Mantle to the 28th position in the global crypto market, as reported by CoinMarketCap.
The excitement surrounding Mantle has grown since the introduction of its innovative rewards station. This feature allows users to securely lock their Mantle crypto in a vault and enjoy various rewards. Investors and analysts have taken notice of this move, further driving the momentum behind Mantle.
Analysts are even speculating that Mantle could become the next altcoin sensation of 2024, potentially seeing a 100x increase in value. In just the past month, Mantle’s price has surged from $0.77 to $1.51, while its market cap has more than doubled from $2.53 billion to $4.84 billion.
The daily price chart indicates a bullish trend for Mantle, with the price consistently maintaining gains above the $1.3 mark and showing resilience against market downturns. Currently, the Mantle token is trading at $1.50, experiencing a 6% surge, with a daily trading volume of $76.8 million.
Market observers are anticipating a potential retest of the overhead resistance at $1.50 for Mantle. Indicators such as the upsloping 20-day EMA and RSI near the overbought zone suggest a positive upward trajectory. If MNT successfully surpasses the barrier at $1.53, the MNT/USDT pair could initiate a rally towards $1.80.
However, a downturn from the $1.50 level would indicate bearish sentiment, potentially leading to a retreat towards the 20-day EMA. A breach below this support level could mark the beginning of a more significant correction.