FxWirePro- MNTUSD(Chart ofthe 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.

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.

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