- Exchange listings on Coinbase and Bybit temporarily lifted the price of Mantle (MNT).
- MNT’s price has bounced from a key support at $1.23 amid neutral technical signals.
- Strong TVL and stablecoin growth support Mantle’s long-term outlook.
The price of Mantle (MNT) cryptocurrency has been on a sharp decline for the past week, dropping by over 19%.
However, the token has seen some relief today, rising by over 3% following some major exchange listings.
But the question on the trader’s mind is whether this marks the end of the bearish correction or is it just another break on the bearish pullback.
Exchange listings halt weekly drop
MNT’s recent price uptick comes in the wake of strategic exchange integrations, particularly on Coinbase International and Bybit.
The launch of perpetual futures on Coinbase, combined with Bybit’s EU Launchpool offering, has injected fresh momentum into the market.
Bybit alone accounts for roughly 37% of MNT’s daily trading volume, with VIP perks and a 250,000 USDT prize pool encouraging retail participation.
These listings have temporarily stemmed the weekly decline, demonstrating the power of exchange-driven liquidity in supporting token demand.
Despite this short-term relief, some traders have already taken profits following the new listings, contributing to a continued week-over-week dip of nearly 15%, as noted in recent social media commentary.
However, while exchange promotions can create sudden buying surges, the sustainability of this recovery remains uncertain, especially as open interest on Coinbase futures has declined post-launch.
Mantle (MNT) price analysis
Technically, Mantle has bounced from the 61.8% Fibonacci retracement around $1.14 after a 19% weekly decline.
Technical indicators, including an RSI of 55.48 and a slightly bearish MACD histogram, suggest neutral momentum with room for short-term volatility.
The immediate resistance lies near $1.40, close to MNT’s April 2024 all-time high, and a failure to break above this level could maintain the bearish pressure.
Looking at the broader Mantle ecosystem, the Total Value Locked (TVL) has surged to $460.04 million, fueled by its liquid staking solution mETH, which has become the fourth-largest liquid staking token with $1.69 billion in TVL.
Stablecoin adoption within the Mantle network has also grown significantly, hitting a record $713.8 million, highlighting strong capital inflows and growing DeFi activity.
These technicals and fundamentals point to underlying support for the token, even amid short-term corrections.
MNT price outlook moving forward
Looking ahead, the outlook for Mantle (MNT) balances cautiously between optimism and caution.
On the bullish side, the network’s institutional products, such as the MI4 fund with over $218 million in assets, demonstrate growing confidence from professional investors.
Further adoption is anticipated through Bybit’s continued integration, the beta launch of the UR banking app, and Mantle’s transition toward zero-knowledge rollups aimed at enhancing scalability and security.
However, short-term traders should be wary of profit-taking dynamics and potential dips below the $1.23 support level, which could trigger further declines to the 38.2% Fibonacci retracement near $1.12.
The post Mantle price outlook: recovery ahead or more bearish pressure for MNT? appeared first on CoinJournal.
