MNT Climbs Toward All-Time High as Buyers Battle at Key Resistance

Mantle’s native token, MNT, has experienced a significant price surge of 14% over the past 24 hours, emerging as one of the most bullish-performing assets in the cryptocurrency market. The price increase followed a breakout above a bullish triangle pattern, which has pushed the token toward a key resistance level near its all-time high of $1.514. However, the asset has failed to surpass this level twice recently, suggesting that significant selling pressure remains in this price zone.

Technical analysis reveals mixed signals for MNT. The Average Directional Index (ADX), a key momentum indicator, continues to trend upward, indicating that a bullish trend is still in play. The ADX typically confirms a strong trend when it converges with price movement, which appears to be the case for MNT. However, the Money Flow Index (MFI), which measures buying and selling pressure through volume and price, is trending downward, signaling liquidity outflows. While the MFI has not yet crossed below the 50 threshold—marking the bearish zone—its current value of 50.2 suggests that the token is at a critical juncture. Any further decline in the MFI could indicate a shift toward bearish momentum and a potential price correction.

Despite the mixed technical signals, market activity remains largely bullish. Spot traders have continued to accumulate MNT, with a daily buy volume of $5.3 million reported as of the latest data. In the derivatives market, open interest has increased by 22% in the last 24 hours, reaching $163 million. This rise, combined with a weighted funding rate of 0.0114%, suggests continued support for higher prices from leveraged traders. These developments indicate that market participants remain optimistic about MNT’s potential to break through the key resistance level and potentially establish a new all-time high.

Analysts have noted that such a breakout would likely be followed by a period of consolidation, as is common after strong upward momentum. The failure of MNT to break above $1.514 twice in recent trading sessions could signal the presence of strong selling pressure at this level. Should this pressure persist, the token may face downward movement, despite the overall bullish sentiment in the spot and derivatives markets. The current technical landscape remains in flux, with no single indicator providing a definitive forecast for the token’s next move.

While the market outlook remains cautiously optimistic, traders are advised to monitor both technical indicators and liquidity flows closely. A continuation of the current bullish trend would depend on MNT’s ability to overcome the $1.514 level with sufficient volume and momentum. If the resistance holds, a pullback could provide a re-entry opportunity for long-term investors. In the absence of a clear breakout, the market may remain in a range-bound pattern until additional catalysts emerge.