Bitcoin

Mantle

The post <a href="https://coinpedia.org/price-analysis/mnt-price-analysis-reports-a-potential-surge-to-2-this-month/" rel="noopener noreferrer nofollow">MNT Price Analysis Reports A Potential Surge To $2 This Month</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the wider market trend growing volatile as Bitcoin fluctuates near $63,000, the Mantle showcases a bullish opportunity. As the MNT token price drops to the 50D EMA, the bulls are going defensive to hold dominance at critical levels.&nbsp;
The bulls absorb the immense supply waves to avoid the 50D EMA breakdown, leading to multiple lower price rejection candles. Hence, the underlying demand for Mantle is significant.&nbsp;
With a solid defense and the increasing chances of a bullsih trend continuation, will the MNT price reach $2?&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/IoF1WATFrbcBIb3lnHDBDl0sFZKX5lpLuHNyQIw6NSgAEgKv5pmhFvtra-Tx-DB3pXwlLhySxJ-tgDJJCns_JC-FA95uzNKo1_T7QNBqO4auDp-CIpxqyKa74gCNS1zSp0ROgBBjxE6d3M_F7WxC0vQ" alt="">
</figure>
<a href="https://www.tradingview.com/x/hJjrEAHH/" rel="noopener noreferrer nofollow">Tradingview</a>
Securing a spot in the Top 30 Crypto on Coinmarketcap, Mantle has a market cap of $3.827 Billion. Further, the MNT altcoin avoids a drop below the psychological mark of $1 during the market crash.&nbsp;
The MNT price action showcases a rising channel in action, meanwhile the MNT price avoids a closing below the 50D EMA. Further, the long-tail candles increase bullish reversal chances from the $1 mark or the 38.20% Fibonacci level.
Currently, the Mantle token price trades at $1.16 with an intraday growth of 3.53% to form a bullish engulfing candle. However, the sideways trend prolongs for the altcoin as it fails to break above the 23.60% Fibonacci level.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-mnt-price-halt-before-1-000">Will The MNT Price Halt Before $1,000?</h2>
As per the Fibonacci retracement in the daily chart, the MNT price consolidates between the 23.60% and 38.20% Fibonacci levels. In short, the $1.17 and $1 levels are the crucial breakout spots for the sideliners to find the next decisive trend in Mantle.&nbsp;
A bullish breakout of the consolidation projects a greater likelihood due to multiple demand elements. Further, the upcoming Bitcoin Halving could improve the broader market optimism. The $1.17 breakout rally could surpass the $1.43 peak and the $1.50 barrier to reach $2 in a few weeks.&nbsp;
Conversely, a drop below $1 will test the 50% Fib level at $0.8799.&nbsp;

MNT Price Analysis Reports A Potential Surge To $2 This Month

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