MNT Extends 330% Rally As Price Holds Above $2.40 Support, Eyes $2.86 Resistance

MNT extended its rally to $2.58, marking a 7.1% daily gain and a 330% surge since the wedge breakout.

The short term range within which the market can continue its operations is pegged at support of $2.40 and resistance of about $2.86.

The token increased its gains by 7.6 percent relative to BTC and 10.4 percent relative to ETH, reaffirming its impressive trading pair momentum.

Mantle (MNT) is on its resilient upward trend following the validation of breaking out of an extended falling wedge pattern in the daily chart. The token, now trading at $2.58, has risen by 7.1% in the past 24 hours, and it has been on a spectacular post-breakout run of more than 330% since August. The good momentum highlights the increased trading activity after several months of consolidation at the lower levels below the $1.00 mark.

Strong Continuation Following Wedge Breakout

The transition out of the receding structure predetermined the significant change in the dynamics in the market. The sustained momentum was caused by price action above the upper trend line of the wedge as buyers continued the control in the consecutive sessions. Notably, MNT’s movement over recent weeks has established a clear trend continuation pattern. The token now trades well above its previous consolidation zone, confirming the broader bullish structure on the daily timeframe.

Key Technical Levels and Market Range

At press time, support is located at $2.40, while the next resistance stands near $2.86. This price corridor defines the short-term structure that may influence upcoming trading behavior. It is still important to maintain order at above $2.40 to keep the current momentum. In the meantime, volume indicators are still high and this indicates that the positioning, in the short term, is not out of the current range. The 24 hour price action has remained within these levels which is an indication of a temporary hold pending a possible growth.

Market Outlook and Broader Implications

MNT’s consistent climb has also strengthened its performance relative to major assets. Compared to the same period, the token has increased by 7.6% and 10.4% against BTC and ETH, respectively. These measures point to the enhancement of relative power in the context of a reinforcing market.

Furthermore, the clean breakout and subsequent uptrend align with a renewed market phase following prolonged compression. Price stability near $2.58 emphasizes sustained buying pressure, with short-term traders now monitoring whether resistance near $2.86 will influence upcoming moves.