MNT price is testing key resistance at $1.40 and appears poised to break through toward its $1.50 ATH very soon, buoyed by Bybit campaigns and an upcoming perps listing on Coinbase International Exchange.
Summary
- MNT price has surged 62% since early August breakout above $0.85 and is now testing key resistance at $1.40.
- Price is only 8% below its $1.50 ATH, with 7EMA acting as strong support.
- Momentum driven by Bybit campaigns and Coinbase International Exchange perps listing on Aug 21.
Mantle (MNT) price has staged an impressive 62% rally since breaking above the key horizontal resistance at $0.85 in early August. The rally has propelled MNT to its second key horizontal barrier at $1.40, where the previous rally topped out in January. The price is testing this level at press time, currently trading at $1.38.
If MNT price crosses this barrier with high volume and follow-through, the path would open towards its ATH of $1.50 — only 8% away, reached in April last year.
The 7-day EMA has acted as dynamic support throughout the rally since the $0.85 breakout, with MNT price consistently respecting it. This makes it the likely level to contain the next pullback, which looks probable given that the RSI is overheated at 75.
Still, there remains potential to close above $1.40 today despite the overheated RSI. Trading activity is heating up, with volume up 33% in the past 24 hours, making MNT the 15th token by 24-hour volume, according to CoinMarketCap.
What’s driving MNT price?
Since August 14, MNT has been fully integrated across Bybit products, including Earn, OTC trades, and the EU Launchpool with 36% APR. Bybit is also driving momentum through campaigns like the MNT Puzzle Hunt, where users share 250,000 Tether (USDT) for completing trading and staking tasks, the MNT price prediction challenge with 1,000 USDT prize, and the first EU Launchpool, where users can stake MNT to earn a share of 100,000 XION.
With these initiatives driving activity, Bybit now accounts for 37% of MNT’s 24-hour trading volume, according to CoinMarketCap.
These campaigns come shortly after Mantle Network welcomed two powerhouse leaders from Bybit as key advisors: Helen Liu and Emily Bao.
On top of Bybit’s support, Coinbase International Exchange announced on August 18 that it will list Mantle perpetuals, with trading set to begin on August 21.
With support from behemoths like Bybit and Coinbase, MNT price looks poised to breach $1.40 and challenge the $1.50 ATH very soon.
