Mantle’s 14% Surge: Could MNT Finally Break its $1.51 ATH or Will It Flop Like a Wet Fish?

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Key Takeaways

Ah, MNT. It’s having one of those days where it’s climbing faster than your hopes on New Year’s Eve-up 14% in just 24 hours! But, as always, there’s a little wrinkle-liquidity outflows are quietly brewing in the background. How delightful.

In the past 24 hours, Mantle [MNT] has strutted across the crypto market like a peacock on steroids, pushing its price up by a dazzling 14%. That’s the highest surge amongst other crypto assets, or so the headlines scream.

However, this sudden explosion of optimism has left the market divided, with spot traders, derivatives folks, and technical indicators all having different ideas. Typical, really.

AMBCrypto, in their infinite wisdom, decided to analyze this whirlwind of excitement and predict how this could affect MNT’s price in the coming days. Spoiler: it’s a bit of a mixed bag.

MNT – One Barrier Away From Glory (Or Crushing Defeat)

The rally came after MNT burst through a resistance level in a bullish triangle pattern-what a sight to behold. However, as is customary, this kind of movement often leads to the inevitable cooldown phase. If history is any guide, the price is about to take a nosedive. How predictable.

Now, here’s the thing: That resistance level? Still standing tall like a stubborn wall, refusing to let MNT reclaim its glorious all-time high of $1.514.

In recent trading activity, MNT failed to breach this level not once, but twice. Looks like the sellers are throwing a bit of a tantrum at this zone, so brace yourself for the possibility of another price dip. Ah, the drama.

Mixed Signals: Because Why Not?

Technical indicators, naturally, are having a bit of a personality crisis. Some are signaling that a rally could still be on the cards, while others are practically waving red flags and telling us to run for the hills.

As of now, the Average Directional Index (ADX) is giving a thumbs up to the possibility of a rally, since it’s trending upwards. The ADX, for those of you who enjoy jargon, signals bullish or bearish trends based on how it moves in relation to price action.

However, let’s not get too excited. The Money Flow Index (MFI) is showing liquidity outflows-because who doesn’t love a good downward trend every now and then?

Although the MFI hasn’t dipped below 50 (which would signify doom), it’s currently at a sluggish 50.2, suggesting that MNT is on the edge. A few more outflows, and we might be staring at a price plunge. It’s the crypto equivalent of holding your breath in a thunderstorm.

Spot and Derivatives Are Still Partying

Despite the mixed signals, both spot and derivatives investors are still acting like everything’s fine. The crypto equivalent of pretending nothing’s wrong when your house is on fire. There’s a combined inflow from both investor groups, which is lovely, really.

Spot traders, bless their hearts, are continuing to buy up MNT like there’s no tomorrow. Currently, daily purchases are at a modest $5.3 million, according to CoinGlass. It’s not the roaring success of an IPO, but it’s something.

Meanwhile, in the derivatives market, liquidity is also surging, because apparently, traders haven’t yet caught on to the whole “mixed signals” thing. Open Interest rose by 22% just yesterday, reaching a robust $163 million. That’s not too shabby.

The increase in Open Interest, combined with a weighted Funding Rate of 0.0114%, suggests that the possibility of another rally remains in the cards. How delightful, another chance to ride this rollercoaster to either glory or catastrophe.

Overall, despite some market skepticism, more bullish than bearish sentiment remains in the air. So, maybe-just maybe-MNT could overcome its resistance and smash through its all-time high. Or not. But hey, who doesn’t love a little uncertainty in their life?

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2025-09-10 18:04