Mantle (MNT) jumps 6% as price eyes $0.46–$0.49 breakout
Mantle (MNT) rebounded on Aug. 19, rising about 6.6% to roughly $0.455. MNT is testing Fibonacci resistance near $0.4575 (the 78.6% retracement), after bouncing from around $0.39 and forming higher lows.
Traders are also watching liquidation heatmaps: CoinGlass shows large leveraged-position clusters above spot, concentrated around $0.46–$0.47 and extending into $0.48–$0.49. If MNT clears ~$0.4575, shorts may be forced to cover, potentially triggering a short-squeeze toward $0.48–$0.49.
On the downside, the closest downside liquidity lies around $0.412–$0.418. Short-term support on the 4-hour chart sits near the Bollinger midpoint at ~$0.4409; a break below it could weaken the rebound and expose lower levels around $0.4257, then ~$0.42 and potentially the larger daily support near $0.3874.
Momentum looks constructive but not euphoric: daily RSI is ~58 (below overbought), while MACD remains positive though the lines are close, suggesting MNT needs stronger confirmation (likely via volume and a daily close above $0.4575).
Fundamental backdrop: Mantle reported growth in tokenized real-world assets, with DeFi TVL above $1B (Nansen), and more tokenized equities (10 → 155 by end-June). For MNT traders, the near-term setup hinges on whether spot demand can drive a confirmed breakout above $0.4575—otherwise the move may fade back toward support.
Bullish
The article is bullish for MNT because price action is already improving and the next resistance zone aligns with liquidation-driven upside potential. MNT is testing the $0.4575 (78.6% Fibonacci) barrier after a rebound from ~$0.39, while momentum indicators (RSI ~58, MACD positive) suggest the move can extend if buyers confirm with a daily close.
The key trader catalyst is the CoinGlass liquidation heatmap: clustered leveraged shorts above spot (roughly $0.46–$0.47, then $0.48–$0.49) can create forced buybacks if MNT breaks higher, similar to past breakout setups where short-covering accelerates gains.
Risk remains that the bounce could fail if MNT loses short-term support near ~$0.4409. In that case, liquidation flows can flip, pulling price back toward ~$0.412–$0.418 and potentially lower supports. Net-net, the setup is optimistic for the next leg upward, but it is conditional on MNT clearing $0.4575 with improving volume.