Mantle increased by 12% – What opportunities will help MNT regain the $1.4 mark?

Mantle (MNT) has increased by 12.31%, reaching a 7-month high of $1.26 before easing slightly to $1.21 at the time of writing.

During the same period, the market capitalization of this altcoin exceeded 4 billion dollars for the first time after 7 months, reflecting a stable inflow of capital.

Whales MNT return

After withdrawing from the spot market 13 days ago, Mantle whales have returned. Average spot order size data from CryptoQuant shows that MNT recorded large whale buy orders on August 15 and 16.

Average Spot Order Size | Source: CryptoQuantTypically, when the spot market records large buy orders from whales, it indicates their strong participation in both supply and demand.

Accordingly, the spot trading volume data shows that these whales are in accumulation mode. According to Coinalyze, Mantle has recorded a positive buy/sell spread for two consecutive days.

Spot Buy and Sell Volume | Source: CoinalyzeOn August 15 and 16, Mantle recorded a total buy volume of 937,000 compared to a sell volume of 455,000. This resulted in a positive difference of 480,000, a clear sign of strong accumulation.

Additionally, the flow on exchanges also reflects this trend. According to CoinGlass, Mantle recorded a negative net spot flow for an extended period. At the time of writing, this index stands at -5.73 million dollars, indicating that outflows are greater than inflows. Historically, higher capital outflows often precede stronger bullish pressure.

Spot trading line | Source: CoinGlass## Futures contracts are becoming increasingly expensive

In addition, data on derivative instruments also shows a similar strong shift.

MNT derivative data | Source: CoinglassAccording to CoinGlass, the derivative trading volume increased by 14.19% to $103.6 million, while the open interest (OI) rose by 26% to $80.6 million at the time of writing.

When both the volume and OI increase, this is a signal to participate more deeply and capital flows into the futures market.

Meanwhile, the Long/Short ratio of Mantle reached 1.01, with Long positions accounting for 51.7% and Short positions accounting for 48.3%.

Long/Short Ratio | Source: CoinglassWhen the futures market records higher demand for Long positions, it indicates that most participants are primarily betting on Long.

Buyers push the increase to the peak

According to the analysis, the demand from whales has rekindled the upward momentum of Mantle. For this reason, the MACD indicator of Mantle has risen to 0.11 at the time of writing, indicating strong demand.

At the same time, the Stochastic RSI index rose to 89, reaching the overbought zone, further confirming the overwhelming strength from the buyers.

Source: TradingViewIn fact, such momentum signals reinforce the uptrend but often come with warnings about strong volatility. If the buying momentum continues, Mantle could return to the $1.2 mark and aim for resistance at $1.4. However, if demand from whales decreases or selling pressure re-emerges, MNT could drop back around $1.05.

Minh Anh