So, it appears Mantle (MNT), that… thing… has decided to have a bit of a price surge. It’s reached a new all-time high of $1.68. Which, in the grand scheme of things, is only slightly more alarming than a slightly annoyed badger. The question, of course, is whether this is a proper rally, or just a temporary blip caused by someone accidentally pressing the ‘up’ button one too many times. 🤔

Apparently, on Friday, September 12th, MNT briefly considered reaching a price of $1.68 before having second thoughts and settling for $1.61. Honestly, understandable.
Bybit, a place where people apparently trade things, decided to have a promotional campaign, and MNT happened to benefit. Correlation? Causation? We’ll leave that to the philosophers.
Someone, somewhere, noticed a ‘double bottom’ on a chart. This, we are told, means a 40% potential upside. Which is lovely. If charts were reliable, we’d all be independently wealthy by now, wouldn’t we?

According to data from crypto.news (which, one assumes, knows these things), MNT wobbled its way to $1.68 on September 12th, before remembering it had other things to do. It’s up 35.5% in the last week, 55% in the last month, and a frankly alarming 130% since the beginning of the year. One begins to suspect a conspiracy. Or, you know, good marketing. 🤷

This excitement coincides with a peak in ‘futures open interest’ – apparently a thing that matters – reaching $211.8 million. Which is a lot of money. Unless you’re a particularly well-funded space program. Then it’s pocket change. It means, they say, more people are betting on it going *up*. This could, in theory, cause it to go up further. Or not. The universe is a chaotic place.

The root cause of all this appears to be the Bybit exchange offering discounts and VIP status to those who hold MNT. It’s like being rewarded for… holding something. Revolutionary, really. They may also be planning to burn some tokens. Which sounds dramatic. And potentially smells faintly of sulfur. 🔥

Furthermore, Bybit intends to list 21 new trading pairs involving MNT. This will make it easier for people to trade it, hedge it, or generally mess around with it. Which, let’s be honest, is what most people do with these things anyway.

Mantle price analysis

Apparently, someone has spotted a ‘double bottom’ on a weekly chart. It started forming around April. It sounds suspiciously like something a fortune teller might say. If you stare at it long enough, it might even start to make sense. It probably won’t.

A ‘double bottom’ is, allegedly, a good thing. It means the price tested a low point twice. The magic number seems to be around $0.52, with a “neckline” at $1.39. If it breaks that neckline again, things might get… well, more expensive. Possibly. One can never be certain.

To add to the confusion, the 20-day moving average is attempting a rendezvous with the 50-day moving average – forming what’s known as a ‘golden cross’. The name is misleading. There is no actual gold involved. It’s just a fancy way of saying “things are looking slightly less bad.”

The MACD indicator is also making optimistic noises. Histograms are turning green. Which is nice for the histograms. Another indicator tells us the bulls are having a good time. Presumably, they’re enjoying a nice cup of tea and a biscuit. ☕

However, the RSI has crossed into ‘overbought territory’. Which means it’s probably gone a bit too far. Like a party that’s gone on for three days straight. But don’t worry, it might just stay overbought for a while. Momentum, you see. People keep buying, even when it doesn’t make any sense.

If all this holds, the next target is $2.28. That’s 40% above where it is now. A remarkable figure! Calculated by measuring the “depth of the double bottom formation.” Which, frankly, sounds like something you should probably avoid if you value your sanity.

But a drop below that $1.39 ‘neckline’ would invalidate everything. And then it would all be quite embarrassing. So, let’s not talk about that. 🤫

2025-09-12 11:15

Mantle: To the Moon… Maybe? 🚀

Mantle price analysis

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