FxWirePro- MNTUSD (Chart of the day)

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.

MNTUSD has performed well after a long consolidation.

Any daily close above $2 confirms further bullishness.

MNTUSD prices surged more than 80% in the past five days. It hit a high of $1.3670 and is currently trading around $1.2860. 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 $1.50, any indicative breach above will take the pair to $2/$2.50. On the lower side, immediate support is $1, and any violation below targets $0.75/$0.50.

Indicators ( 4- hour chart)

Directional movement index - Bullish

It is good to buy on dips around $1 with SL around $0.75 for TP of $1.50/$2.

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