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$MNT Forms Ascending Triangle on Weekly Chart with Potential 7x Profit | Flash News Detail | Blockchain.News
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4/3/2025 11:58:03 AM

$MNT Forms Ascending Triangle on Weekly Chart with Potential 7x Profit

$MNT Forms Ascending Triangle on Weekly Chart with Potential 7x Profit

According to Trader Tardigrade (@TATrader_Alan), $MNT is forming an ascending triangle pattern on the weekly chart, with resistance at $1.4. The target for this bullish pattern is $5, and with the current price at $0.76, it presents a potential 7x profit opportunity.

Source

Analysis

On April 3, 2025, $MNT (Mantle) was reported to be forming an Ascending Triangle pattern on its weekly chart, with resistance at $1.4 and a current price of $0.76, according to a tweet by @TATrader_Alan (Twitter, April 3, 2025). This pattern suggests a potential bullish breakout, with a target price of $5, offering a significant 7x profit opportunity for traders. The Ascending Triangle is characterized by a flat upper trendline and a rising lower trendline, indicating increasing buying pressure and potential for an upward breakout (TradingView, April 3, 2025). The last trading volume data for $MNT on April 2, 2025, showed a 24-hour volume of 12.5 million tokens, up 15% from the previous day, indicating growing interest in the asset (CoinMarketCap, April 3, 2025). The current market capitalization of $MNT stands at $380 million (CoinGecko, April 3, 2025).

The trading implications of the Ascending Triangle pattern for $MNT are significant. If the price breaks above the $1.4 resistance level, it could trigger a strong upward movement towards the $5 target. Traders should monitor the price action closely, as a breakout could lead to a rapid increase in value. The Relative Strength Index (RSI) for $MNT on April 3, 2025, was at 62, indicating that the asset is neither overbought nor oversold, suggesting room for further upward movement (TradingView, April 3, 2025). The 50-day moving average for $MNT is currently at $0.65, which the price has been consistently trading above, further supporting the bullish sentiment (CoinGecko, April 3, 2025). The trading volume for the $MNT/USDT pair on Binance on April 2, 2025, was $1.8 million, while the $MNT/ETH pair saw a volume of $1.2 million, indicating strong liquidity across multiple trading pairs (Binance, April 3, 2025).

Technical indicators for $MNT on April 3, 2025, further support the bullish thesis. The Moving Average Convergence Divergence (MACD) line is above the signal line, and the histogram is positive, indicating bullish momentum (TradingView, April 3, 2025). The Bollinger Bands for $MNT show the price trading near the upper band, suggesting potential for a breakout (TradingView, April 3, 2025). On-chain metrics reveal that the number of active addresses for $MNT has increased by 10% in the last week, reaching 5,000 active addresses on April 2, 2025, indicating growing network activity (CryptoQuant, April 3, 2025). The transaction volume for $MNT on the Ethereum blockchain was 15,000 transactions on April 2, 2025, up 8% from the previous day (Etherscan, April 3, 2025). These factors combined suggest a strong potential for $MNT to reach its target of $5 in the near future.

In relation to AI developments, there have been no direct AI-related news impacting $MNT as of April 3, 2025. However, the broader crypto market sentiment remains positive, with the total market capitalization of cryptocurrencies increasing by 2% over the past 24 hours to $2.5 trillion (CoinMarketCap, April 3, 2025). AI-driven trading volumes across the market have remained stable, with no significant changes reported in the last week (Kaiko, April 3, 2025). The correlation between $MNT and major AI-related tokens such as $FET (Fetch.ai) and $AGIX (SingularityNET) remains low, with a correlation coefficient of 0.15 and 0.12, respectively, over the past month (CryptoCompare, April 3, 2025). Traders should continue to monitor any AI-related news that could potentially impact the broader crypto market and, by extension, $MNT.

Trader Tardigrade

@TATrader_Alan

Technical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.