Mantle (MNT) is currently trading around $2.77, up nearly 20% today and just below it’s all-time high of $2.85 set a few hours ago. The token has gained over 130% in the past month and more than doubled since August, with notable increases in both trading volume and market capitalization.
RSI and Bollinger Bands Indicate Potential Overbought Conditions
Technical analysis shows that the Relative Strength Index (RSI) remains above 70, which is generally considered an overbought level. This can suggest that buying pressure may be elevated in the short term. Bollinger Bands are also widening, with the price positioned near the upper band. This is typically associated with increased volatility and may indicate that the asset is extending away from its mean.
The $2.50 level appears to align with the 38.2% Fibonacci retracement from the recent upward move. This area has previously acted as a support level and could be significant if there is a pullback.
Read also: RSI: The Beginner’s Tool That Most People Use Wrong
On-Chain and Ecosystem Developments Support Market Activity
Major updates have contributed to increased liquidity and market engagement. Recent developments in Mantle’s ecosystem include a partnership with World Liberty Financial (WLFI) and the launch of the USD1 stablecoin, along with deeper integration with crypto exchange Bybit.
Mantle has also expanded into real-world asset (RWA) tokenization, launching a new platform aimed at bridging traditional finance and blockchain infrastructure. This has added to broader institutional interest.
Outlook
Momentum remains bullish, and volume levels reflect sustained participation. If Mantle maintains support above $2.50 and breaks through the $2.85 level, it may indicate a continuation of the current trend and climb to $3. A failed breakout or increased selling pressure could lead to consolidation or a short-term correction.
As usual, technical indicators reflect current market sentiment and price momentum but do not account for external events or fundamental changes. There are limitations in predicting exact price behavior.
