Mantle crypto: How MNT’s 10% rally could push price toward $0.59

Mantle [$MNT] is carrying on its positive sentiment by making yet another 10% gain following a breach of the $0.5416 level in the past 24 hours as of writing.

Moreover, the bullish breakout of $MNT is helping in strengthening its technical setup, as the price is currently trading above the 20-day, 50-day, and 100-day EMAs on the daily chart. This means that both short-term and medium-term momentum is bullish.

Trading above the above-mentioned Moving Averages might help the token to build the base to push higher from the current trading price.

In addition to this, the growing trade volumes and high whale activity, along with bullish futures positions, are also providing a boost to the token’s rally towards its next level of resistance at $0.5928. Moreover, the recent 10% gain has confirmed positive buying pressure and put the token in a position to test its next resistance.

Trading volume nearly triples

Looking into the token’s on-chain metrics, the network’s market activity is also surging alongside the bullish price action. The trading volume across the Mantle network has almost tripled to $47 million, which shows the significant market participation.

Drawing on similar scenarios, rising volume during a breakout provided stronger confirmation that buyers are actively supporting the move. The same turn of events could be developing for $MNT. With the higher volume, the token could gain sufficient liquidity to test the resistance level of $0.5928.