Institutional Hype Fuels MNT's Defiant Bull Run

Mantle (MNT) has seen a significant price surge in recent weeks, with the token trading near $1.39 and showing robust market momentum amid a broader crypto market downturn. The price of MNT has climbed more than 12% in the last 24 hours, according to recent exchange data, outpacing many of its peers and signaling strong buyer interest. This performance has been driven by key developments, including a strategic partnership with Bybit and a new futures listing on Coinbase. These moves have expanded MNT’s accessibility to both retail and institutional traders, contributing to increased demand and liquidity.

Mantle’s market capitalization now exceeds $3.4 billion, with its price approaching a critical resistance level at $1.40. Historical price patterns suggest that a clean break above this threshold could open the door to further gains, potentially testing a price target of $1.65. The token’s all-time high stands at $1.51, a level that remains in sight as bullish indicators such as the Chaikin Money Flow (CMF) remain positive, reflecting strong inflows of buying pressure. Additionally, the token has maintained higher highs on both daily and weekly charts, reinforcing the argument for continued upward movement.

Technical indicators also highlight the significance of recent price action. Mantle’s price has broken above key resistance levels, with a Golden Cross forming as the 50-day moving average crosses above the 200-day line—a classic bullish signal. On-chain data reveals that large holders of MNT, specifically those with between 100,000 and one million tokens, have significantly increased their holdings in recent days. This accumulation suggests a belief in the token’s long-term value and potential for further appreciation.

The broader market context has also played a role in Mantle’s performance. Despite a generally weak environment for cryptocurrencies following stronger-than-expected U.S. producer price data, MNT has remained resilient. The token’s ability to maintain gains reflects confidence in its underlying utility, particularly as a governance and gas token on the Mantle Network. This network, a Layer 2 solution for Ethereum, is designed to enhance scalability and reduce transaction costs, making it an attractive option for developers and users alike.

Recent developments on the exchange side have added to the positive momentum. Bybit’s introduction of a MiCA-compliant staking product for MNT has further integrated the token into the platform’s ecosystem. Additionally, the exchange has launched a structured product known as “Double Win,” which offers unique risk-reward dynamics for participants. These offerings have enhanced MNT’s utility beyond trading, providing investors with additional ways to engage with the token.

The upcoming futures listing on Coinbase International Exchange is another major catalyst. Perpetual futures contracts for MNT will begin trading on or after August 21, allowing for leveraged exposure to the token. Futures listings on major exchanges typically attract new capital, including institutional investors, which can lead to increased volatility and price discovery.

Despite the bullish outlook, technical resistance at $1.40 remains a crucial test for the token. Volume data and candlestick patterns indicate that the market is consolidating, with signs of short-term profit-taking emerging. A sustained break above $1.40 could invalidate bearish patterns and open the path for a multi-phase rally. Conversely, a pullback to key support levels—such as $1.23 and $1.08—could trigger a temporary correction before a potential resumption of the uptrend.

Looking ahead, the broader market’s reaction to macroeconomic developments, particularly inflation and interest rate expectations, will play a critical role in shaping the trajectory of MNT. However, the token’s current technical and fundamental positioning suggests that it is well-positioned to continue outperforming its peers, especially if the strategic initiatives with Bybit and Coinbase continue to gain traction.

Source: [1] Mantle Price, MANTLE Price, Live Charts, and Marketcap (https://www.coinbase.com/en-nl/price/mantle) [2] Mantle (MNT) Rockets 73% After Bybit Boost, Enters Top ... (https://www.ccn.com/analysis/crypto/mantle-token-mnt-price-rockets-bybit-boost/) [3] Mantle Price, MANTLE Price, Live Charts, and Marketcap (https://www.coinbase.com/en-gb/price/mantle) [4] MNT Price Explodes 35% in 7 Days, What's the Next Big ... (https://cryptopotato.com/mnt-price-explodes-35-in-7-days-whats-the-next-big-target/) [5] Mantle ($MNT) Rallies 12% on Major News (https://cryptonews.com/news/mantle-mnt-rallies-12-on-major-news-but-faces-key-technical-test/)