Mantle (MNT) Price Drops 22%, Technical Signals Indicate Potential Reversal
- Price Downtrend: Mantle's price has fallen from $1.13 on January 6 to $0.88, marking a 22% decline, reflecting bearish market sentiment and reduced speculative trading that has kept prices suppressed.
- Market Environment Impact: Amid escalating trade tensions between the U.S. and EU and delays in a key market structure bill, Mantle faces fresh liquidity challenges, with its price down nearly 69% from last October's all-time high of $2.86.
- Futures Market Changes: Data from CoinGlass shows Mantle's futures open interest plummeted from $490 million in October to $59 million, indicating a significant drop in speculative demand that further pressures the price.
- Technical Reversal Signals: Despite being in a descending channel, multiple bullish reversal patterns have emerged on the daily chart, and if Mantle defends the $0.85 support, it could trigger a rally towards the psychological $1.00 resistance level.
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Technical Analysis for MNT
Technical Sentiment Analysis for Mantle (MNT) As of , Mantle (MNT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MNT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MNT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Mantle (MNT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.281 | 0.403 | 0.538 | 0.659 | 0.794 | 0.916 | 1.051 |
| Fibonacci | 0.403 | 0.501 | 0.561 | 0.659 | 0.757 | 0.818 | 0.916 |
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