Mantle Breaks $0.77 Resistance With Chart Showing Push to $1.30

• MNT is forming a breakout wedge and has moved from $0.55 to $0.75 in a short upward surge.
• The Fibonacci levels point to $0.99 and $1.11 as next possible steps before MNT touches the $1.30 mark.
• Price broke above the wedge range after months of tight consolidation and now holds near the $0.74 region.

Mantle (MNT) is forming a right-angled descending broadening wedge, a bullish chart formation. The price currently trades near $0.748, with potential to reach $1.30. The structure reflects breakout momentum, confirmed by steep upward candles from mid-July that lifted the token above key retracement levels.

Breakout Structure Signaling Upside Potential

According to the TradingView chart, MNT broke out from a tight range, launching from a base near $0.55. This breakout followed the lower support trendline of a descending broadening wedge pattern. The move resulted in several consecutive daily candles closing higher, bringing the token above $0.73.

This structure has historical relevance in technical analysis. A descending broadening wedge, particularly with a right angle, often precedes strong bullish continuation. MNT’s price behavior confirms this with a surge into the $0.75 range from earlier July lows near $0.53.

Candlestick patterns during this phase displayed momentum-driven spikes, with low shadow presence and consistent body growth. This shows sustained buyer interest. The breakout occurred on increased volume, validating the structural interpretation seen on the daily timeframe.

Fibonacci Levels Confirm Price Path

Fibonacci retracement and extension tools on the chart project upside targets beyond $1.00. The 0.786 Fibonacci zone near $0.77 was briefly tapped before minor rejection occurred. Price is currently consolidating near $0.7489.

Further Fibonacci projections indicate the 1.272 level at $0.9964, the 1.618 extension at $1.1106, and the 2.0 level at $1.3058. These levels mark potential resistance and breakout checkpoints for bulls eyeing continued momentum.

Short-term retracement support lies at the 0.618 level ($0.72) and 0.5 level ($0.68), where consolidation may hold. These zones are vital if buyers intend to maintain upward pressure.

The right-angled wedge’s width and angle often determine the magnitude of a breakout. The vertical range from low to high gives this current setup the room to target $1.30 effectively.

The wedge’s upper horizontal resistance has been breached, another confluence suggesting a measured move could unfold soon. Price action near resistance levels above $0.90 and $1.10 will determine the move’s sustainability.

Can Mantle Sustain Momentum Toward $1.30?

The structure’s foundation suggests bullish energy remains. The token’s past week showed explosive growth, bouncing off the $0.55 mark and hitting intraday highs above $0.76. This pattern aligns with known bullish formations, offering a calculated projection toward $1.30 if conditions hold.

The descending wedge has played out across a four-month base. The range began in April, tightening progressively into mid-July before the price launched upwards. Historical price resistance from April and June around $0.86 may act as a midway test before continuation.

Fibonacci extension levels and price history match on several points, providing high-confluence zones between $0.99 and $1.11. A clean break and hold above $0.90 may act as a springboard toward $1.30 in coming weeks.

Traders observing this pattern will be watching closely for a second leg to confirm breakout strength. Trading volume spikes and sustained candles above $0.77 could be the early signal for continued upside.