The Mantle (MNT) Network operates on the ETH chain as an L-2 scalability solution and an ERC20 token. It serves as the driving force behind the Mantle network ecosystem, contributing to network security and stability. By the first half of 2024, Mantle (MNT) TVL surged by 4x, reaching an all-time high of $465.22 million. The increase in Total Value Locked boosts confidence in Mantle (MNT) by enhancing its reliability and reducing risk.
Mantle (MNT) emerged as one of the top daily gainers on CoinMarketCap alongside other cryptocurrencies like Stacks (STX), SUI (SUI), Cronos (CRO), and ORDI. It optimized by 6.33% in market value and 103.07% in trading volume in the last 24 hours, with a market value of $3.392 billion and a trading volume of $122.610 million. There are 3.264 billion MNT tokens in circulation, with low liquidity at 3.53%.
The technical perspective of Mantle (MNT) price indicates a consolidation phase with support at $0.9400 and a potential bullish reversal. Positive indicators such as the golden cross in MACD and RSI above 50 suggest a favorable price forecast. Market Spotter highlighted a rising broadening wedge pattern and anticipated a bullish reversal that could propel MNT price higher.
The article concludes that Mantle is poised for a significant surge once it breaks out of the consolidation phase. Analysts and technical indicators predict a bullish momentum, with the current price at $1.028 targeting $1.30 and $1.55. However, failure to maintain support above $1.0 could lead to a decline.
