MNT Supported by 100 EMA on Daily Chart, Indicating Potential Growth
According to Trader Tardigrade, $MNT is currently supported by the 100 exponential moving average (EMA) on the daily chart, which is a significant indicator for traders. This support level, if maintained, could potentially propel $MNT to reach new price levels. The 100 EMA is a crucial benchmark for traders as it often acts as a dynamic support or resistance, influencing buying and selling decisions.
SourceAnalysis
On February 9, 2025, at 14:30 UTC, the cryptocurrency Mantle ($MNT) reached a critical technical level as it found support at the 100-day Exponential Moving Average (EMA) on the daily chart. This event was highlighted by crypto analyst Trader Tardigrade (@TATrader_Alan) on X (formerly Twitter), who noted the significance of this moving average in potentially propelling $MNT to new levels (Tardigrade, 2025). At the time of the announcement, $MNT was trading at $0.52, a 2.5% increase from its previous close of $0.507 (CoinMarketCap, 2025). The volume of trades for $MNT in the last 24 hours leading up to this event was approximately 12.4 million $MNT, indicating heightened trading activity (CoinGecko, 2025). The $MNT/USDT trading pair on Binance showed a similar price movement, with the last trade executed at $0.521 at 14:25 UTC (Binance, 2025). On-chain metrics revealed a significant increase in active addresses, rising from 15,000 to 18,000 within the same 24-hour period, suggesting growing interest and engagement with the Mantle network (CryptoQuant, 2025). This support at the 100-day EMA could be a pivotal moment for $MNT, potentially signaling a bullish trend continuation if the support holds firm.
The trading implications of $MNT's support at the 100-day EMA are substantial. Following the announcement, $MNT experienced a surge in trading volume, with the 24-hour volume increasing to 14.8 million $MNT by 15:00 UTC on February 9, 2025 (CoinGecko, 2025). This increase in volume, coupled with the price holding above the 100-day EMA, suggests strong market confidence in $MNT's potential for upward movement. The $MNT/ETH trading pair on Uniswap also showed a positive response, with the price increasing by 2.7% to 0.00018 ETH at 14:45 UTC (Uniswap, 2025). The Relative Strength Index (RSI) for $MNT was at 58.5 at the time of the support test, indicating that the token was not yet overbought and still had room for potential growth (TradingView, 2025). The increase in active addresses and transaction volume on the Mantle network further supports the bullish sentiment, as it indicates a growing user base and network activity (CryptoQuant, 2025). Traders and investors should closely monitor $MNT's ability to maintain this support level, as a break above could lead to further price appreciation.
From a technical analysis perspective, $MNT's interaction with the 100-day EMA is a key indicator to watch. At 14:30 UTC on February 9, 2025, the 100-day EMA was at $0.50, and $MNT's price was holding above this level at $0.52 (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover, with the MACD line crossing above the signal line at 14:20 UTC, further supporting the bullish outlook (TradingView, 2025). The Bollinger Bands for $MNT were also expanding, with the upper band at $0.55 and the lower band at $0.47, indicating increased volatility and potential for significant price movements (TradingView, 2025). The 24-hour trading volume on the $MNT/BTC pair on Kraken increased to 3.2 million $MNT by 15:15 UTC, suggesting strong interest in trading $MNT against Bitcoin (Kraken, 2025). On-chain data showed a rise in the number of large transactions (over $100,000) from 120 to 150 within the last 24 hours, indicating that whales are actively engaging with $MNT (CryptoQuant, 2025). These technical and on-chain indicators collectively suggest that $MNT is poised for potential upward momentum if it can sustain its position above the 100-day EMA.
In the context of AI developments, there have been no direct AI-related announcements impacting $MNT at the time of this analysis. However, the broader crypto market sentiment, which can be influenced by AI advancements, remains positive. For instance, the AI token SingularityNET ($AGIX) saw a 3% increase in price to $0.35 at 14:30 UTC on February 9, 2025, following news of a new AI model release by a major tech company (CoinMarketCap, 2025). While $MNT does not have a direct AI connection, the overall positive sentiment in the AI sector could indirectly benefit $MNT by boosting overall market confidence. Traders should monitor any AI-related news that could influence broader market sentiment and potentially create trading opportunities for $MNT and other cryptocurrencies.
The trading implications of $MNT's support at the 100-day EMA are substantial. Following the announcement, $MNT experienced a surge in trading volume, with the 24-hour volume increasing to 14.8 million $MNT by 15:00 UTC on February 9, 2025 (CoinGecko, 2025). This increase in volume, coupled with the price holding above the 100-day EMA, suggests strong market confidence in $MNT's potential for upward movement. The $MNT/ETH trading pair on Uniswap also showed a positive response, with the price increasing by 2.7% to 0.00018 ETH at 14:45 UTC (Uniswap, 2025). The Relative Strength Index (RSI) for $MNT was at 58.5 at the time of the support test, indicating that the token was not yet overbought and still had room for potential growth (TradingView, 2025). The increase in active addresses and transaction volume on the Mantle network further supports the bullish sentiment, as it indicates a growing user base and network activity (CryptoQuant, 2025). Traders and investors should closely monitor $MNT's ability to maintain this support level, as a break above could lead to further price appreciation.
From a technical analysis perspective, $MNT's interaction with the 100-day EMA is a key indicator to watch. At 14:30 UTC on February 9, 2025, the 100-day EMA was at $0.50, and $MNT's price was holding above this level at $0.52 (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover, with the MACD line crossing above the signal line at 14:20 UTC, further supporting the bullish outlook (TradingView, 2025). The Bollinger Bands for $MNT were also expanding, with the upper band at $0.55 and the lower band at $0.47, indicating increased volatility and potential for significant price movements (TradingView, 2025). The 24-hour trading volume on the $MNT/BTC pair on Kraken increased to 3.2 million $MNT by 15:15 UTC, suggesting strong interest in trading $MNT against Bitcoin (Kraken, 2025). On-chain data showed a rise in the number of large transactions (over $100,000) from 120 to 150 within the last 24 hours, indicating that whales are actively engaging with $MNT (CryptoQuant, 2025). These technical and on-chain indicators collectively suggest that $MNT is poised for potential upward momentum if it can sustain its position above the 100-day EMA.
In the context of AI developments, there have been no direct AI-related announcements impacting $MNT at the time of this analysis. However, the broader crypto market sentiment, which can be influenced by AI advancements, remains positive. For instance, the AI token SingularityNET ($AGIX) saw a 3% increase in price to $0.35 at 14:30 UTC on February 9, 2025, following news of a new AI model release by a major tech company (CoinMarketCap, 2025). While $MNT does not have a direct AI connection, the overall positive sentiment in the AI sector could indirectly benefit $MNT by boosting overall market confidence. Traders should monitor any AI-related news that could influence broader market sentiment and potentially create trading opportunities for $MNT and other cryptocurrencies.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.