Mantle (MNT) has made a remarkable entrance into the crypto world, reaching an all-time high of $1.51 and securing a market cap of $4.8 billion. This impressive performance has catapulted Mantle to the 28th position in the global crypto market, according to CoinMarketCap.
The unveiling of Mantle’s innovative rewards station has fueled the excitement surrounding the project. This feature allows users to lock their Mantle crypto in a secure vault and receive various rewards, attracting the attention of investors and analysts.
Analysts are speculating that Mantle could become the next altcoin sensation of 2024, potentially increasing its value by 100 times. In just one 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 staying above the $1.30 mark and displaying resilience against market downturns. Currently, the Mantle token price has increased by over 6% to trade at $1.50, with a daily trading volume of $76.8 million.
Market observers anticipate a potential retest of the overhead resistance at $1.50, as indicators such as the rising 20-day EMA and RSI near the overbought zone suggest an upward trajectory. If MNT manages to surpass 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 a bearish sentiment and potentially lead to a retreat towards the 20-day EMA. A breach below this support level could signify the beginning of a more significant correction.
