Mantle (MNT) continues to trade under pressure, extending its downward trend. Over the past 24 hours, the token slipped nearly 1.63%, reflecting persistent selling activity. The broader weekly picture looks weaker, with MNT recording a sharper 13.63% decline during the last seven days overall.
At the time of writing, MNT is priced at $0.01470. Daily trading volume stands at $75.48 million, marking a strong 45.93% increase within 24 hours. Despite heightened activity, Mantle’s market capitalization remains steady at around $3.12 billion, signaling cautious investor sentiment.
Also Read: Mantle (MNT) Pushes Higher Toward $2.87 With Strong Volume
Price Structure Shows Prolonged Distribution Phase
Crypto analyst @LLuciano_BTC highlighted that the chart shows Mantle completing an early accumulation phase between June and July near the $0.55–$0.60 region. A clear breakout from the descending structure triggered a strong uptrend, pushing the price toward the $1.40–$1.60 zone. Bullish momentum peaked near the cycle high around $2.60, marking a major distribution area.
After the peak, the market went into a strong downtrend, establishing lower highs and lower lows. The descending channel defined market actions from October to January, establishing that the sellers dominated the market. Every attempt to reverse was near the resistance level in the descending channel, but the pull downwards pushed the market towards the major support level between $0.80 and $0.90.
At the current stage, the price is being compressed close to this support area, which is a very significant point. A breakout above the descending trend can lead to the following targets: $1.20, $1.60, and resistance at $2.00 to $2.60. A failure to support can lead to the previous low at $0.52.
Descending Channel Keeps Sellers in Control
According to another crypto analyst, @TeddyCleps, Mantle’s weekly chart suggests the market has been in a corrective stage following the strong upward movement, which topped out in the vicinity of $2.20-$2.30. There has been a retreat in the market, which has made higher lows when compared to past cycles.
The major demand zone is between $0.95 and $0.98, which is a strong support level. This level may result in a bounce back to $1.14 and $1.20. A break past $1.40 may result in a target of $1.60 and $1.90. Breaking past $0.92 will negate the trade.
Also Read: Mantle (MNT) Price Forecast: Is a Q4 Rally in Sight?
