Mantle (MNT) Hits All-Time High of $1.51. Can It Break the $2 Barrier?

• Mantle (MNT) hits a $1.51 all-time high, signaling strong momentum in the crypto market.
• Mantle (MNT) climbs to 28th position in the global crypto market with a $4.8 billion market cap.

A new player has stepped into the arena with undeniable force in the crypto world. Mantle (MNT) has surged to an all-time high of $1.51 today, boasting a market cap of $4.8 billion and catapulting itself to the 28th position in the global crypto market, according to CoinMarketCap.

The buzz around Mantle intensified following the unveiling of its innovative rewards station. This feature allows users to lock their Mantle crypto in a secure vault and reap various rewards—a move that has captured the attention of investors and analysts alike.

Further, analysts are speculating that Mantle could potentially be the next 100x altcoin sensation of 2024, adding fuel to the fire of its meteoric rise. Over the past month alone, Mantle’s price has surged from $0.77 to $1.51, while its market cap has more than doubled from $2.53 billion to $4.84 billion.

Will Mantle (MNT) Continue It’s Rally?

The daily price chart reveals a bullish trend for Mantle, with its price decisively maintaining gains above the $1.3 mark and showing resilience against market downturns. As of the latest data, the Mantle token price has surged over 6% to trade at $1.50, with a daily trading volume reaching $76.8 million.

Mantle market observers a potential retest of the overhead resistance at $1.50, with indicators such as the upsloping 20-day EMA and RSI near the overbought zone suggesting an upward trajectory. If MNT manages to surpass the barrier at $1.53, the MNT/USDT pair could initiate a rally towards $1.80.

However, a downturn from the $1.50 level would signal bearish sentiment, potentially leading to a retreat towards the 20-day EMA. A breach below this support level could signify the beginning of a more significant correction.