The MNT token reached highs of $0.91 on Tuesday and could break to $1 and eye the all-time high of $1.51.
Mantle (MNT) price has surged more than 20% in the past 24 hours, jumping from lows of $0.72 to $0.91.
This uptick aligns with other altcoins’ bounces over the past day, with likes of Litecoin and Pump.fun among top gainers in the largest 100 coins by market cap.
Notable gains for Mantle have come amid a 280% surge in daily volume to $622 million, while its market cap has increased to $2.96 billion.
As noted, Mantle’s price surge coincides with a pump in the broader altcoin market.
A lot of the upside momentum has come after last week’s sell-off, with an announcement from the Commodity Futures Trading Commission buoying investors.
MNT price has also benefited from a robust network, which boasts a significant increase in stablecoin market cap to $653 million.
The total value locked in DeFi on the protocol has also jumped to $233 million, largely helped in recent weeks by a surge in activity around its ecosystem.
Also worth noting is Mantle’s contribution of 101,867 ETH worth over $388 million to the Strategic ETH Reserve.
Institutional inflows through initiatives like the Mantle Index Four and innovative products such as mETH Protocol for liquid staking add further upside fuel. Lookonchain highlights these in the X post below.
Mantle’s strong market momentum has MNT trading towards the psychological $1 mark. The last time bulls hovered at or above this level was in February 2025.
Mantle’s price trajectory has bulls eyeing fresh bids above $1, and analysts say a breakout above this level could catapult MNT past its all-time high of $1.51. The altcoin reached this milestone on April 8, 2024.
On the daily chart, technical indicators provide bullish signals. The Relative Strength Index (RSI) stands at 66 and upsloping to indicate potential upside continuation before hitting the overbought zone.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator suggests a bullish crossover. Per the chart above, the MACD line is looking to cut above the signal line, highlighting a potential short-term bullish momentum.
Mantle is also trading near the upper Bollinger Band at $0.87 with price above the middle line and with likely support at the lower band of $0.68.
A decisive break above the upper resistance could signal a bullish flip, allowing buyers to extend gains past $1 to the $1.40 region.
A confirmation of an upbeat sentiment from other catalysts will help this bullish trend. The downside however could make $0.68 a key level to watch. Major support also lies near $0.55.
