The growing demand for Mantle Token (MNT) signals a promising continuation of its bullish rally in the short term. Recent data from Santiment reveals that MNT’s Positive Price Daily Active Addresses (DAA) Divergence metric stands at 54.67%, indicating an uptick in user activity. This divergence is seen as a strong buy signal, suggesting that more investors are showing interest in MNT, potentially driving its price higher.
In addition to the DAA metric, MNT’s Network Realized Profit/Loss (NPL) stands at -131,000, signaling reduced profit-taking activity. NPL measures the realized profit or loss of tokens exchanged on a given day, and a negative NPL suggests that assets were sold at a loss. This can deter further selling pressure in the short term as investors may be reluctant to sell at a loss, thereby reducing market selloffs and strengthening the ongoing price rally.
From a technical standpoint, the MNT/USD one-day chart shows a bullish trend, with MNT’s price recently surging above its 20-day exponential moving average (EMA). The 20-day EMA, a key short-term indicator, suggests that MNT’s price is trending upwards. If the momentum continues, MNT could break through its current resistance level at $1.29, potentially reaching its all-time high of $1.51, last touched in April.
However, the rally’s continuation is not guaranteed. If selling pressure builds, the bullish outlook may be invalidated, and MNT’s price could dip to $1.11. Market sentiment will play a crucial role in determining the direction of this rally.
Also Read: Mantle Network (MNT) Price Prediction 2025-2030: Ethereum Layer-2 Solution Poised for Growth
In conclusion, with strong demand indicators and reduced selling pressure, MNT is poised for further short-term gains. Investors should keep an eye on resistance levels and market dynamics to gauge the sustainability of this bullish momentum.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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