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Mantle Network is an L2 scalability solution built on top of Ethereum. It is a technology stack for scaling Ethereum. Mantle Network has been built with a modular architecture that combines an optimistic roll-up protocol with an innovative data availability solution.
Transaction per second 500
Block confirmation time - 10 milliseconds
MNTUSD has jumped slightly after a long consolidation
Any daily close above $1.55 confirms further bullishness.
MNTUSD prices consolidate in a narrow range between $0.9279 and $1.0830 for past two weeks. It hit a high of $1.5060 and is currently trading around $1.0363. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $1.10, any indicative breach above will take the pair to $1.25/$1.530. On the lower side, immediate support is $0.70, and any violation below targets $0.540/$0.450.
Indicators ( 4-hour chart)
CCI(50)- Bullish
Directional movement index - Bullish
It is good to buy on dips around $0.75 with SL around $0.54 for TP of $1.50.
