Mantle Becomes Top Gainer as Bybit Deal Pushes MNT to ATH: Can the Rally Last?
Mantle (MNT) has emerged as the high gainer in the crypto market, hovering to a brand new all-time high of $1.65 on September 11. The token is up 18% in 24 hours, 46% over the previous week, and a formidable 65% in the final month.
With a market cap of $5.3 billion and totally diluted valuation at $10.1 billion, Mantle’s surge is being fueled by its deepening partnership with Bybit.
The initiative, branded as “MNT x Bybit 2.0,” launched 21 new buying and selling pairs towards high belongings like ETH, SOL, ADA, and SUI. Bybit additionally launched a “HODL & Earn” marketing campaign, rewarding Mantle holders with a share of a 60,000 XUSD pool.
This has led to a pointy spike in exercise, with spot quantity climbing 41% to $655 million and futures quantity greater than doubling to $268 million. Open curiosity jumped to $203 million, reflecting heightened speculative demand.
Technical Indicators Point to Momentum, and Risk
The breakout has positioned Mantle firmly above $1.60, with sturdy assist from short-term transferring averages.
The 10-day EMA at $1.32 and 20-day SMA at $1.22 are trending upward, whereas momentum indicators like MACD and Momentum stay bullish. Analysts recommend that if the uptrend continues, MNT might take a look at resistance ranges of $1.80-$2.00.
However, warning alerts are rising. The RSI has climbed above 70, flashing overbought situations, whereas the Commodity Channel Index (CCI) surged above 300. Both indicators usually precede short-term pullbacks. Bollinger Bands additionally present value hugging the higher band, suggesting high volatility forward.
What’s Next for Mantle (MNT)?
Mantle’s future trajectory will hinge on whether or not it will probably maintain demand generated by Bybit’s growth and its omnichain integration through LayerZero, which boosts utility throughout a number of blockchains. Its rising position in DeFi, linked with a rising TVL of $1.8 billion, strengthens the bullish case.
However, analysts warn that profit-taking or broader market shifts might set off a correction towards $1.22–$1.36 assist zones. For now, investor confidence stays high, however the key query is whether or not Mantle can construct on its momentum or if the rally is nearing exhaustion.
Cover picture from ChatGPT, MNTUSD chart from Tradingview
