Mantle Rallies 35% in 7 Days on Launchpool and Golden Cross, Eyes $1.65
Mantle (MNT) has rallied 35% over the past week, trading at $1.36 with daily volume of $508.7 million. The surge follows the launch of a Bybit EU Launchpool for MNT on August 14 and collateral ratio adjustments that made the token more attractive for lending products. Confidence grew further when Coinbase International announced perpetual futures markets for Mantle, Reserve Rights (RSR) and SuperVerse to go live on or after August 21. On the technical front, Mantle has formed a bullish Golden Cross—its 50-day moving average crossing above the 200-day line—signaling a sustained uptrend. Immediate resistance lies at $1.36–$1.41 (1.0 Fibonacci extension), with a breakout targeting $1.65. Key supports sit at $1.23 and $1.08, with deeper floors near $0.98–$0.97. Traders eye these levels for entry and risk management as Mantle consolidates its recent gains.
Bullish
The news is bullish for Mantle and the broader market for several reasons. First, fundamental catalysts—such as the Bybit EU Launchpool and collateral ratio adjustments—enhance token utility and demand. Second, Coinbase’s upcoming perpetual futures listing typically attracts institutional and retail capital, as seen in past listings where assets like Solana and Chainlink rallied immediately after futures debuted. Third, the formation of a Golden Cross on the daily chart confirms a shift to a sustained uptrend, encouraging momentum traders to buy on dips. In the short term, these factors may drive further upside toward $1.65, provided the current support holds. Over the longer term, improved infrastructure partnerships and growing liquidity could solidify MNT’s market position, reducing downside volatility and attracting more strategic investors.