Mantle Price Hits a New ATH of $1.54: What's Next?

Mantle Price Analysis: What Drives the Current Rally?

The Mantle price has caused a stir in the crypto market, reaching a new high of $0.54. This increase mainly comes from Bybit’s recent addition of 21 MNT trading pairs. As MNT keeps making progress, investors and traders are closely watching price changes to see if the token can maintain its upward trend.

Mantle Price Continues to Surge

Right now, the Mantle price is showing significant gains, creating a sense of hope in the crypto market. As of the latest update, the cryptocurrency is trading at $1.58, which represents a notable increase of 15% in just one day. Over the last week and month, the token has experienced even more impressive rises of 42% and 60%, respectively.

MNT’s previous all-time high stood at $1.438, which it achieved in September 2024. Over the past year, the altcoin has been showing high fluctuations, with its price ranging from $0.5501 to $1.3. Over the past month, MNT has been exhibiting an upward trend despite fluctuations.

Yesterday, the price broke past $1.4 and reached a new all-time high of $1.5, continuing its rally. It hit $1.54, $1.58, and is now targeting new all-time highs, sparking investor interest. Driven by this positive sentiment, traders are actively engaging with the altcoin. As a result, the 24-hour trading volume hit $636 million, up 35%.

What Drives this Rally?

Notably, Mantle’s current bull run is mainly driven by Bybit listing. On Tuesday, Bybit, the fifth-largest crypto exchange, announced the listing of MNT with 21 trading pairs. To encourage investment, the exchange has launched the 'HODL & Earn Stablecoins' program. Participants can earn from a $60,000 prize pool by holding the altcoin and XUSD stablecoin.

Will Mantle Continue its Bull Run?

According to technical analysis, the Mantle price has been rising since July after breaking out from a falling wedge pattern. After a short period of profit-taking in late August, September’s price action has regained bullish momentum.

MNT's next move depends on breaking through $1.511. If the bullish momentum continues, $2 could be possible. On the other hand, a price drop like past corrections could bring MNT down to $0.88, making current price action crucial.

On a larger scale, Mantle's weekly chart shows a significant breakout from a long-term symmetrical triangle that has formed over several years. Staying above $1.511 might confirm bullish trends, potentially leading to a 200% rally to $4 or higher.

Analysts like Immortal refer to the crypto as a “sleeping giant.” The analyst believes that now that the token has moved past $1.5, its next target is $3.