MNT Token Poised to Surge Like Chainlink in 2019

Cryptocurrency analyst Inmortal believes MNT, the native token of the Mantle platform, has the potential to mimic Chainlink's pre-bull phase and surge significantly in value. Currently trading at $0.66, MNT could rise to $6 in the near future, according to Inmortal's forecast. Meanwhile, Bitcoin's response to the $95,000 level will be crucial for determining the market direction.

Cryptocurrency analyst Inmortal has highlighted Mantle (MNT), the native token of the layer-2 scaling solution Mantle, as a potential breakout candidate, mirroring Chainlink's (LINK) pre-bull phase. According to Inmortal, MNT's current consolidation phase, similar to Chainlink's from 2019 to 2020, suggests that the token could experience a significant surge in value. Inmortal's prediction is based on historical data and market patterns, with MNT currently trading at $0.66, but potentially rising to $6 in the near future [1].

Meanwhile, Bitcoin's (BTC) response to the $95,000 level will be crucial for determining the market's direction. Inmortal suggests that if Bitcoin flips this key price level as support, it could indicate a local bottom rather than the start of a new bear market. However, if Bitcoin fails to hold this level, it could signal further downside [1].

Bitcoin's recent surge above $91,000, coinciding with gold's new all-time high, reflects investors' concerns over a potential economic recession amid ongoing global trade tensions. However, the Bitcoin futures premium stands at 6%, which is not considered particularly bullish. Some analysts interpret this as a sign that Bitcoin is beginning to decouple from the stock market [2].

While Bitcoin's 30-day options skew indicator remains within the neutral range, suggesting limited enthusiasm among professional traders following the recent surge, the market is still watching the US-China trade war for further developments. Despite some weak macroeconomic data, market participants expect a relatively strong first-quarter earnings season [2].

In conclusion, while both MNT and Bitcoin face significant uncertainties, Inmortal's analysis provides a compelling case for potential upside in MNT, and the $95,000 level will be a critical test for Bitcoin's market direction.

References:
[1] https://thebittimes.com/under-the-radar-altcoin-flashing-same-setup-that-preceded-3-797-explosion-for-chainlink-according-to-analyst-tbt114250.html
[2] https://cointelegraph.com/news/bitcoin-analysts-target-95k-as-trump-s-trade-war-cools-do-btc-futures-agree?utm_campaign=rss_partner_inbound&utm_medium=rss&utm_source=rss_feed