Mantle ($MNT) Jumps 4.6% to $1.07 – Breakout Ahead or Bull Trap?
Main Idea
Mantle's $MNT token rose 4.6% to $1.07, driven by strong fundamentals, a partnership with EigenLayer, and institutional interest, but faces potential resistance and selling pressure.
Key Points
1. Mantle's $MNT token increased by 4.6% to $1.07, fueled by solid fundamentals and a strategic partnership with EigenLayer.
2. Mantle is a leading Ethereum Layer-2 (L2) solution and the first L2 to partner with EigenLayer for its data-availability module.
3. The network's TVL stands at $242.65 million, with recent developments like the $400 million MI4 tokenized fund aiming to boost adoption.
4. Mantle's price rally from $0.66 to $1.06 showed strong buying volume but now faces resistance and aggressive selling pressure.
5. Key support levels to watch are $1.02–$1.03, with potential for a reattempt at $1.06 if support holds.
Description
Mantle ($MNT) climbed 4.6% to $1.07 as Layer 2 tokens gain traction, but faces a tough battle at a key resistance. The Ethereum scaling solution is riding the momentum from major partnerships and its growing ecosystem. While short-term technicals show some indecision, the project continues to make strategic moves that could strengthen its position long-term. Pendle is back in the top 10 on @DefiLlama with TVL at all-time highs. @pendle_fi is cooking – explore their $cmETH market on Mantle Networ...
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