Mantle (MNT) has emerged as the top gainer in the crypto market, soaring to a new all-time high of $1.65 on September 11. The token is up 18% in 24 hours, 46% over the past week, and an impressive 65% in the last month.
With a market cap of $5.3 billion and fully 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,” introduced 21 new trading pairs against top assets like ETH, SOL, ADA, and SUI. Bybit also launched a “HODL & Earn” campaign, rewarding Mantle holders with a share of a 60,000 XUSD pool.
This has led to a sharp spike in activity, with spot volume climbing 41% to $655 million and futures volume more than doubling to $268 million. Open interest jumped to $203 million, reflecting heightened speculative demand.
The 10-day EMA at $1.32 and 20-day SMA at $1.22 are trending upward, while momentum indicators like MACD and Momentum remain bullish. Analysts suggest that if the uptrend continues, MNT could test resistance levels of $1.80-$2.00.
However, warning signals are emerging. The RSI has climbed above 70, flashing overbought conditions, while the Commodity Channel Index (CCI) surged above 300. Both indicators often precede short-term pullbacks. Bollinger Bands also show price hugging the upper band, suggesting high volatility ahead.
However, analysts warn that profit-taking or broader market shifts could trigger a correction toward $1.22–$1.36 support zones. For now, investor confidence remains high, but the key question is whether Mantle can build on its momentum or if the rally is nearing exhaustion.
Cover image from ChatGPT, MNTUSD chart from Tradingview
