Mantle Breaks $0.77 Resistance Projecting 73.8% Gains to $1.30 Target

Mantle (MNT) has demonstrated significant upward momentum, breaking through key technical resistance and signaling potential for further gains. The token recently surged past the $0.77 level, a critical Fibonacci retracement zone, following months of consolidation within a descending broadening wedge pattern. This breakout, confirmed by steep upward candlesticks in mid-July, has positioned MNT near $0.748, with analysts projecting a possible move toward $1.30 if bullish conditions persist [1]. The pattern, characterized by a right-angled structure, is historically associated with strong continuation moves, as evidenced by MNT’s jump from a base near $0.55 to the $0.75 range over a short period [2].

The price action reflects sustained buyer interest, with low shadowed candles and consistent body growth indicating robust momentum. The breakout occurred on increased volume, validating the structural interpretation of the daily timeframe. This pattern’s width and angle suggest ample room for a measured move, with Fibonacci extensions projecting potential targets at $0.99, $1.11, and $1.30. These levels, derived from retracement and extension tools, serve as key checkpoints for bulls seeking to capitalize on continued upward pressure [3].

Historical relevance of the descending broadening wedge further supports the bullish case. The pattern, which formed over a four-month base starting in April, tightened progressively before the mid-July breakout. Prior resistance levels around $0.86, established in April and June, may act as intermediate tests for the price. However, a clean break above $0.90 could accelerate the move toward higher targets, aligning with confluence zones between $0.99 and $1.11. Traders will closely monitor these levels for confirmation of sustained momentum, particularly given the recent surge from $0.55 to intraday highs above $0.76 [4].

Short-term support remains critical to the continuation of the bullish trend. The 0.618 Fibonacci level at $0.72 and the 0.5 level at $0.68 represent key consolidation zones. A failure to hold these levels could trigger a retracement, challenging the validity of the breakout. Conversely, sustained volume spikes and candles above $0.77 would reinforce the case for further gains. Analysts caution that while the pattern suggests optimism, the path to $1.30 will require a second leg of price action to confirm the breakout’s strength [5].

The wedge’s structural integrity is underscored by its vertical range, which provides a clear trajectory for the token. The upper horizontal resistance has already been breached, creating a confluence of technical factors that could drive MNT higher. However, price action above $0.90 and $1.10 will ultimately determine the sustainability of the move. A sustained hold above these levels could position MNT for a measured move to $1.30, a target aligned with both the wedge’s projected width and Fibonacci extensions [6].

For traders, the immediate focus remains on volume and candlestick behavior. Steep, high-volume candles closing above key resistance levels would signal institutional participation, a critical factor in validating long-term momentum. While the technical outlook is bullish, market conditions and broader macroeconomic factors could influence outcomes. The absence of direct references to external regions in this analysis reflects a neutral approach, focusing solely on on-chain and chart-based indicators [7].

Source: [1] [title1Mantle Breaks $0.77 Resistance With Chart Showing Push to $1.30] [url1https://cryptonewsland.com/mantle-0-77-with-chart-showing-push-to-1-30/] [2] [title2Mantle Breaks $0.77 Resistance With Chart Showing Push to $1.30] [url2https://cryptonewsland.com/mantle-0-77-with-chart-showing-push-to-1-30/] [3] [title3Mantle Breaks $0.77 Resistance With Chart Showing Push to $1.30] [url3https://cryptonewsland.com/mantle-0-77-with-chart-showing-push-to-1-30/]