Mantle’s native token, MNT, has emerged as one of the standout performers in today’s market. In spite of the broader crypto downturn, its price has surged 12% in the past 24 hours.
On-chain metrics and daily chart readings suggest increasing activity on Mantle’s network and growing demand among spot traders. This positions MNT to potentially retest its all-time high of $1.86.
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MNT Surge Gains Traction as Demand and Inflows Climb
The positive readings from MNT’s price daily active address (DAA) divergence indicate an increase in the altcoin’s demand, supporting its double-digit rally. At the time of writing, this metric stands at 63.97%.
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The price DAA divergence measures the relationship between an asset’s network activity and price. A rising metric during a price rally suggests that network activity is increasing alongside price, indicating organic demand.
This trend indicates strong momentum for MNT, confirming the potential for its recent double-digit surge to continue in the short term.
Moreover, readings from the MNT/USD one-day chart show its Chaikin Money Flow (CMF) above zero, signaling sustained capital inflows into the spot markets. As of this writing, this momentum indicator is at 0.21 and maintains an upward trend.
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The CMF indicator tracks the flow of capital into and out of an asset over a defined period by combining price and volume data.
When the CMF value remains above zero, it signals buy-side pressure, indicating that investors are accumulating the token instead of distributing it. Conversely, a drop below zero indicates selling pressure and potential weakness in the trend.
With MNT’s CMF currently above zero and climbing, strong capital inflows are bolstering its recent rally. This further supports the case for a move toward a new price peak.
Mantle Bulls in Control, But Profit-Taking Threatens Rally
Prolonged buy-side pressure could drive MNT’s price toward reclaiming its $1.861 record high, which now serves as a resistance barrier. If demand intensifies and MNT breaks above this level, it could achieve a new all-time high.
However, should profit-taking resume, the altcoin’s price may reverse its current trend and attempt to fall below the $1.604 support floor.
