Mantle (MNT) could be preparing for a bullish breakout

Today, crypto analyst Alan suggested that MNT could be preparing for a bullish breakout, supported by multiple on-chain indicators.

Crypto analyst Alan highlighted that on-chain indicators are presenting a bullish case for Mantle (MNT) heading into the week.

The MACD indicator on the daily timeframe indicates a bullish crossover at a low position, suggesting strong potential for a rebound, and the risk-reward-ratio at the current level indicates that investors are willing to buy MNT tokens. These figures highlight a possibility of a breakout if MNT continues its positive momentum.

Mantle has experienced notable price consolidations in recent months. Despite such hurdles, the altcoin shows signs of recovery, reflecting the notable rebounds currently noticed in the broader crypto market. Today, the analyst suggested that Mantle’s current market action has continued to hold above a crucial support level. This not only suggests resilience but also shows that the asset is preparing for a potential strong breakout.

This persistent holding above this support level suggests robust buyer interest around this support zone, indicating rising confidence among traders.

Several altcoins are currently displaying favorable indications of completing their downtrend formations, signifying potential uptrends. MNT remains a major token to look at as it currently moves in a historical pattern that, historically, contributes to a robust upturn movement.

On Friday, April 25, 2025, MNT was added to theCoinbase roadmap. This addition often acts as a precursor for an asset to be listed to the third-biggest cryptocurrency exchange. Following the addition, MNT surged 9.5%, continuing its upturn over the past week. In the last two week, the asset rose by 4.2%, displaying an impressive strength during the ongoing crypto market recovery that has made BTC recover its price above the $90k mark and currently trading at $93,887.