Mantle (MNT) rockets 12% – Here’s why $1.40 is back in play

Mantle's native token just ripped past resistance—fueling bullish momentum as traders eye a return to $1.40.

What’s driving the surge?

Speculation swirls around ecosystem growth and a potential liquidity squeeze. Meanwhile, Bitcoin’s sideways grind pushes altcoin traders to chase bigger moves.

Key levels to watch: A clean break above $1.30 could trigger FOMO buys, while failure here might see profit-taking from the usual 'buy high, sell low' crowd.

One thing’s certain: In crypto, gravity works both ways.

Key Takeaways

Mantle’s $1.26 rally drew whales back with 937K buys, futures saw a 26% Open Interest spike and momentum turned bullish. Could volatility or a sharp reversal be next?

Mantle [MNT] rallied 12.31% to a 7-month high of $1.26 before easing back to $1.21 at press time.

Over the same period, the altcoin’s market cap surpassed $4 billion for the first time in 7 months, reflecting steady capital inflow.

Mantle whales make a comeback 

After taking a step back from the spot market 13 days ago, Mantle whales re-entered. Spot Average Order Size data from CryptoQuant showed that Mantle showed Big Whale Orders between the 15th and the 16th of August.

Source: CryptoQuant

Typically, when the spot market records whale orders, it signals heightened whale participation across supply and demand.

Naturally, Spot Buy vs. Sell Volume suggested these whales were in accumulation mode. According to Coinalyze, Mantle recorded a positive Buy/Sell Delta for two straight days.

Source: Coinalyze

On the 15th and the 16th of August, Mantle saw a cumulative 937K in Buy Volume against 455K in Sell Volume. This produced a positive Delta of 480k, a clear sign of aggressive accumulation.

On top of that, exchange flows echoed the trend.

According to CoinGlass, Mantle recorded negative Spot Netflow for a sustained period. At press time, this metric stood at -$5.73 million, highlighting heavier outflows than inflows. Historically, higher outflows have preceded stronger upside pressure.

Source: CoinGlass

Futures turn increasingly bullish

Having said that, derivatives data pointed to an equally strong shift.

Source: Coinglass

According to CoinGlass, Derivatives Volume jumped 14.19% to $103.6 million, while Open Interest (OI) climbed 26% to $80.6 million, at press time.

When Volume and OI rise together, it signals deeper participation and inflows into futures.

Meanwhile, Mantle’s Long/Short Ratio hit 1.01, with longs accounting for 51.7% and shorts for 48.3% of positions. 

Source: Coinglass

When futures record a higher demand for longs, it indicates that most market participants are mainly betting long. 

Buyers push momentum to the limit

According to AMBCrypto’s analysis, whale demand has reignited Mantle’s momentum.

For that reason, Mantle’s Moving Average Convergence Divergence surged to 0.11, at the time of writing, indicating strong demand.

At the same time, its Stochastic RSI hiked to 89, touching the overbought zone, further confirming the buyer’s dominance.

Source: TradingView

In fact, such momentum signals firm upward bias but often carry warnings of volatility.

If buyer momentum holds, Mantle could reclaim $1.20 and eye $1.40 as resistance. However, fading whale demand or renewed selling could drag MNT back toward $1.05.