The post Mantle Price Holds Above $1.23, Will Bulls Eye $1.40 Resistance? appeared first on Coinpedia Fintech News
Mantle price continues its strong uptrend, gaining 4.47% in the past 24 hours to trade at $1.28. The token has mooned nearly 60% in a month, backed by robust institutional interest and staking demand. Bybit EU’s MiCA-regulated staking pool launch on August 14 triggered fresh buying, while whale wallets increased spot purchases, signaling confidence in further upside.
With its market cap now at $4.32 billion and daily volume at $437 million, MNT is back in focus as traders target key technical levels. If you are considering stacking some Mantle, this analysis is a must-read for you.
MNT price recently broke above the 23.6% Fibonacci retracement at $1.23 and remains well-positioned above its 7-day SMA at $1.20. The RSI-7 reading of 71.9 shows overbought conditions, while the MACD histogram at +0.032 reinforces bullish momentum.
The altcoin hit a 24-hour high of $1.33 before retreating slightly, with $1.40 acting as strong resistance after capping gains on August 16. A decisive close above $1.40 could open the door to a test of $1.60, the next major swing high. On the downside, a failure to hold $1.23 could prompt profit-taking toward $1.12, the 38.2% Fibonacci retracement level.
Overall, the market structure remains positive as long as the $1.23 support zone is maintained. Traders will be watching whether inflows into Bybit’s staking pool continue through its August 29 closing date. Sustained demand could underpin a push to reclaim last year’s all-time high of $1.51.
$1.40 is the immediate resistance. A breakout above it could send MNT toward $1.60.
A close under $1.23 may trigger profit-taking and push the price down to $1.12 support.
Bybit’s staking pool reduces circulating supply and boosts long-term demand, which supports price gains.
