Altcoins News
By Sakamoto Nashi
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Bearish Market Structure on Mantle’s Price Charts. On the weekly timeframe, Mantle’s price structure looks distinctly bearish.
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Key Levels to Watch: Support and Resistance. Mantle’s price has now fallen to the $0.83 support level, which is a crucial point in determining…
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Indicators Suggest Bearish Momentum. The technical indicators further confirm the bearish outlook for Mantle.
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Liquidation Heatmap and Short Entry Strategy. The recent price drop and liquidation cascade have obliterated the liquidity around $1, which…
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Conclusion. Mantle (MNT) is currently in a bearish phase, with key support levels being tested and multiple…
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Mantle (MNT) has been facing significant downward pressure recently, and traders are now questioning whether it is time to enter short positions after the price briefly bounced…
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On the weekly timeframe, Mantle’s price structure looks distinctly bearish. The coin’s recent drop below the $1.
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The drop below $1.03 and its continued struggle to reclaim higher levels indicate a lack of bullish momentum.
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Looking at resistance, the $0.915–$0.956 zone has emerged as a potential supply zone. This zone will likely act as a strong barrier for any rallies in the near future.
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The technical indicators further confirm the bearish outlook for Mantle. The Chaikin Money Flow (CMF) is currently at -0.
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These indicators, alongside the broken market structure, suggest that the bears are in control, and it’s unlikely that Mantle will see a significant rally anytime soon.
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The recent price drop and liquidation cascade have obliterated the liquidity around $1, which likely contributed to the recent move down to $0.83.
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After such a steep price drop, it is likely that Mantle will experience a period of consolidation around the $0.90 mark as liquidity levels above and below the price build up.
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For those looking to go short, it would be wise to wait for a price bounce toward the $0.95-$1.03 zone, where short entry opportunities may arise.
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Mantle (MNT) is currently in a bearish phase, with key support levels being tested and multiple technical indicators suggesting that further downside could be in the cards.
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