U.S. President Donald Trump signs an executive order promoting cryptocurrencies. This has resulted in the market experiencing a strong bullish recovery. Moreover, the Mantle token records a double-digit surge, resulting in it bagging the highest 24-hour gains among the top 100 cryptos.
With the rising bullish sentiment in the crypto space, is this a good time to invest in altcoins before the AltSeason kicks in? CoinPedia’s expert panel has uncovered the possible short-term Mantle Price Analysis today.
The Mantle token has maintained its bullish price action by adding over 12% in 24 hours and 34.73% this week. Moreover, with a 7-day return of +10%, this altcoin has secured the 35th position with a market capitalization of $4.179 billion.
The Relative Strength Index (RSI) successfully retests its oversold range in the daily time frame. This has resulted in it recording a sharp spike toward the overbought range with its average trendline recording a bullish convergence. This suggests a positive outlook in the coming time.
Further, the 50-day EMA indicator experiences a positive crossover with its 200-day constant supporting the Mantle price chart in the 1D time frame. This highlights increased buying-over-selling pressure for the altcoin in the crypto market.
If the market continues favoring the bulls, this could result in the price of Mantle retesting its important resistance level of $1.27. Maintaining the price above that level could push the price toward its upper high of $1.40 this month.
On the contrary, if a trend reversal occurs, the MNT coin price will retest its support level of $1.14. Further, if the bears outrun the bulls, this could pull the price toward its low of $1.
Planning on investing in MNT crypto token before it achieves the $1 mark? Read CoinPedia’s Mantle Price Prediction to uncover the long-term possibilities!
The MNT price has surged over 300% from its ATL of $0.3136, highlighting a significant increase in the adoption process.
Suppose, the bullish sentiment sustains, this could result in this altcoin heading toward its yearly high of $2.31.
With a 24-hour trading volume of $255.42 million, the MNT crypto is exchanging hands at $1.2458.
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