Mantle Soars 12% on Whale Accumulation and Futures Surge
Mantle [MNT] surged 12.31% to a seven-month peak of $1.26 before pulling back to $1.21. Major whale investors re-entered the spot market, generating 937K in buy volume against 455K in sell volume over two days. Negative net spot flows of $5.73 million signaled sustained outflows, suggesting accumulation. Futures data showed a 14.19% jump in volume to $103.6 million and a 26% rise in open interest to $80.6 million. The long/short ratio reached 1.01, indicating slightly more bullish bets. Technical indicators confirmed this bias: MACD climbed to 0.11 and Stochastic RSI hit 89, marking overbought conditions. If buying momentum persists, Mantle could reclaim the $1.20 level and target $1.40. However, any drop in whale demand or renewed sell-offs may push MNT back toward $1.05.
Bullish
The signs of renewed whale accumulation and rising futures open interest indicate a bullish outlook. Historically, similar whale-driven rallies propelled altcoins higher in both short and medium term. For instance, in April 2025, significant whale buys in MNT preceded a 20% rally. Here, 937K buy vs. 455K sell shows strong demand. Concurrently, a 26% increase in open interest and more long positions reflect growing trader confidence. Technical momentum readings, such as a rising MACD and overbought Stochastic RSI, further support an upward bias. While overbought conditions can trigger volatility, the prevailing trend remains positive. Traders may see short-term gains toward $1.40, with long-term potential if accumulation continues. Any pullback would likely find support near $1.05. Overall, these factors point to a bullish market impact for MNT.