Mantle’s native token jumped nearly 10% on Thursday, climbing above $0.69 and pushing back toward the $0.70 mark. Trading volume more than doubled to $46 million, a 116% spike that accompanied the move. The rally came as a broader altcoin rebound lifted sentiment across the market, with gains in Hyperliquid, Zcash, and NEAR adding to the upbeat mood.
Mantle’s 10% rally
The MNT token retested key resistance at $0.70 during Thursday’s session, briefly hitting intraday highs above $0.69 before settling near that level. The price has now recovered above $0.65 and moved back above its short-term moving averages. Daily technical indicators — the Relative Strength Index and the MACD — favor short-term upside, with the MACD showing a potential bullish crossover.
But enthusiasm is tempered by other readings. The Average Directional Index and the Commodity Channel Index remain neutral, suggesting the rally lacks strong conviction. And the price still sits below a key downtrend line that has capped gains since earlier this year.
Technical picture remains mixed
If buyers can push through $0.71, the next major target is the 100-day exponential moving average near that same level, followed by the 200-day EMA around $0.82. Further up, the 100-day simple moving average near $0.84 looms as another hurdle. On the downside, a failure to hold above $0.65 and a break below $0.60 would invalidate the current bullish outlook. Support sits at $0.60 and the $0.57 zone.
Sellers may target the 100-day EMA around $0.71 and the 200-day EMA near $0.82 if the price fails to sustain momentum. For now, the recovery is intact, but the neutral ADX and CCI readings suggest the market is still weighing the next move.
Ecosystem developments and RWA narrative
Mantle has drawn renewed attention amid growing market discussion around real-world asset (RWA) projects. The ecosystem recently saw xStocks integrate its xChange platform on Mantle, the launch of a token called $BILL, and KelpDAO enabling withdrawals of rsETH. These developments are part of a broader push to tie the network to tokenized real-world assets.
Institutional demand could get a boost if the U.S. Securities and Exchange Commission allows tokenized stock trading, a scenario that would likely benefit platforms like Mantle that are already building RWA infrastructure. Market chatter around that possibility has helped lift interest in MNT and similar tokens.
Key levels to watch
For the rally to extend, Mantle needs to close above $0.71 and hold that level as support. That would open a path toward $0.82 and then the 100-day SMA near $0.84. If the price fails, the $0.60–$0.57 zone becomes the critical floor. The coming days will show whether Thursday’s volume spike was a one-off or the start of a sustained move. The SEC’s stance on tokenized stocks, still unresolved, remains the wild card for the broader RWA sector.
