Mantle (MNT) Breaks Out Above Range, Eyes $1.22 Target
Mantle price surged over 20% after reclaiming the value area high, following strong support at $0.57. The MNT breakout above its trading range spotlights renewed bullish momentum backed by rising volume. Mantle price now targets $1.22 as the next resistance level, with limited barriers until that high timeframe point. Traders should note that a close above the previous range high confirms market acceptance of higher prices. Continuous higher highs and lows attest to a sustained uptrend for MNT. If price holds above the reclaimed range, bulls may drive further gains. A failure to maintain the break could see a pullback to $0.57 but current momentum suggests support remains firm. Effective risk controls around key levels will be crucial for traders.
Bullish
Mantle’s 20% rally above its established range signals strong bullish sentiment. The token respected the $0.57 support on multiple high timeframe retests, forming a robust base for accumulation. The subsequent breakout above the value area high, confirmed by increased trading volume, mirrors classic technical setups where market acceptance at higher prices often preludes further advances. With no significant resistance until $1.22, traders anticipate a continued uptrend, aligning with previous altcoin breakouts in similar scenarios. Historically, altcoins that clear key high timeframe levels with volume tend to pursue momentum-driven moves, as seen in past SEI and Fantom breakouts. In the short term, this could fuel immediate buying pressure toward the $1.22 target, while in the long term, maintaining higher highs and lows may attract more investors, reinforcing a sustained uptrend. However, a drop below the reclaimed range could trigger profit-taking and a retest of support at $0.57. Overall, current indicators favor bullish continuation for MNT.