Mantle Surges 117% in 37 Days on Strong Derivatives Demand and Bullish Structure

Mantle (MNT) has experienced a significant price rally of over 117% in 37 days, driven by consistent accumulation and a bullish market structure [1]. The token’s price surged from $0.55 in early July to above $1.20 by mid-August, with higher highs and higher lows forming a clear upward trajectory [1]. Trader Tardigrade noted that MNT has climbed into the top six tokens by growth among the top 100, with corrections met by strong buying pressure [1].

Derivatives data further supports the bullish trend, with open interest rising by 25.99% to $79.66M, signaling fresh capital inflows [1]. Trading volume also increased by 19.16% to $107M, indicating growing participation in the derivatives market [1]. The 24-hour long/short ratio stands at 1.0121, showing a slight bias toward long positions without excessive imbalance, which contributes to the trend’s stability [1].

Notably, short liquidations have continued to support upward momentum, with nearly $326K of liquidation recorded in 24 hours, including $117K from short positions [1]. These liquidations, particularly short squeezes, reinforce the upward bias and suggest normal volatility within the rally. Strong support has also formed around the $1.10 level, and if this holds, it could serve as a base for a potential move toward $1.35 and $1.50 [1].

Investor sentiment remains positive, with top traders on Binance showing a heavier long bias in both account and position exposure [1]. As of the latest data, Mantle was trading at $1.20, up 10.66% in a day, with a 24-hour trading volume of $317M [1]. Over the past seven days, the price increased by 14.45%, reinforcing the bullish trend [1]. With continuous liquidity absorption and a solid structure, MNT has emerged as one of the top-performing assets in the current market [1]. Provided the momentum continues, a return to its all-time high appears increasingly probable in the near term [1].

Source: [1] Mantle (MNT) Price Rallies Over 117% in 37 Days Amid Rising Demand and Derivatives Growth (https://coinmarketcap.com/community/articles/68a0f24f1643015c0d262821/)