Bybit's Boost Ignites MNT's Battle for $1.40 Breakout

Mantle (MNT) has experienced a sharp rise in recent weeks, with its price reaching $1.40 at press time. Over the past 30 days, the token surged 73%, surpassing the market capitalization of notable projects like Pepe (PEPE), Ethena (ENA), and Aave (AAVE), marking a significant milestone for the Ethereum layer-2 network. This rally has been fueled by a combination of factors, including strategic integrations with major exchanges and growing institutional interest.

One of the primary catalysts for MNT’s recent performance is its integration with Bybit, which has expanded the token’s utility across the platform’s ecosystem, including Spot, Derivatives, Earn, OTC, and exclusive campaigns. This move has attracted increased demand, particularly from large holders, whose collective holdings have risen from 17.36 million to 20.68 million tokens in just a few days. Additionally, on-chain data from Santiment shows that daily active addresses have continued to climb, indicating that network activity is aligning with the price surge, a positive sign for the token’s sustainability.

The technical outlook for MNT remains bullish, with the Chaikin Money Flow (CMF) rising above zero and signaling stronger capital inflows than outflows. The token has also broken above a key resistance level at $0.83 and is currently forming a rising wedge pattern on the weekly chart. While the pattern typically signals a potential bearish reversal, the CMF remains in positive territory, suggesting continued buying pressure. A decisive close above $1.40 could propel the price toward $1.60, with the all-time high of $1.51 serving as a near-term target.

However, the price has faced repeated rejections at the $1.40 level, raising concerns about the strength of the current rally. The Relative Strength Index (RSI) currently stands at 73.73, indicating overbought conditions and increasing the likelihood of a short-term correction. A failure to sustain above $1.25 could trigger a pullback toward the $1.09 level, where new buying interest may emerge. The market is closely watching whether inflows into Bybit’s staking pool continue, as sustained demand could provide the necessary momentum for MNT to reclaim its previous highs.

Mantle’s price trajectory is also influenced by broader market conditions. As a layer-2 token, its performance is closely tied to the overall sentiment in the cryptocurrency market. With increased whale activity and institutional participation at critical levels, the token remains a focal point for traders. Nevertheless, caution is advised given the overbought RSI levels and the formation of a rising wedge pattern. Volume analysis will be key in determining the authenticity of any breakout above $1.40.

Source:

[1] Mantle Token (MNT) Price Rockets by Bybit Boost (https://www.ccn.com/analysis/crypto/mantle-token-mnt-price-rockets-bybit-boost/)

[2] Mantle Price Holds Above $1.23, Will Bulls Eye $1.40 Resistance? (https://coinpedia.org/price-analysis/mantle-price-holds-above-1-23-will-bulls-eye-1-40-resistance/)

[3] Mantle Price Struggles at $1.40 Amid Rising Wedge Formation (https://www.cryptotimes.io/2025/08/20/mantle-price-struggles-at-1-40-amid-rising-wedge-formation/)