Mantle price has surged to hit a new all-time high driven by fresh momentum from its expanded partnership with crypto exchange Bybit.
Summary
- Mantle hit a new ATH of $1.65, up 18% in 24 hours.
- Bybit added new MNT pairs, yield rewards, and leverage options.
- Derivatives volume jumped 117%, but RSI shows overbought risk.
Mantle (MNT) surged to a record high of $1.65 on Sept. 11, trading around $1.63 at press time. The token has gained 18% in the past 24 hours, 46% over the last week, and 65% in the past month. Its market capitalization now stands at $5.3 billion, with a fully diluted valuation of $10.1 billion.
Bybit listings and rewards fuel Mantle price rally
The rally followed Mantle’s expanded partnership with Bybit, announced on Sept. 10. The initiative, referred to as “MNT x Bybit 2.0,” introduced new trading pairs, yield programs, and institutional features. Over three days, Bybit added several MNT spot pairs against assets such as SOL, ETH, ADA, and SUI.
The exchange also launched a “HODL & Earn” event, allowing users to share a 60,000 XUSD prize pool by holding MNT and XUSD until Sept. 16. Trading activity responded sharply. Mantle’s 24-hour spot volume reached $655 million, a 41% increase from the previous day. Derivatives activity also increased, according to Coinglass data.
Open interest rose 31% to $203 million, while the daily futures volume increased 117% to $268 million. Higher volume and rising open interest indicate that more traders are opening leveraged positions, which can amplify price fluctuations in either direction.
Mantle price technical analysis
Following its breakout from consolidation, MNT is now trading above $1.60 on the chart. Support is provided by short- and medium-term moving averages which are trending upward, such as the 10-day EMA ($1.32) and the 20-day SMA ($1.22). Momentum indicators are positive, with MACD and Momentum signaling further strength.
But overbought conditions are starting to appear. The relative strength index has risen above 70 and the commodity channel index is above 300, both of which are levels that often precede short declines. Bollinger Bands show price hugging the upper band, which reflects strong buying pressure but also increased risk of volatility.
Deeper support is located around $1.22, with key support close to $1.48. Resistance may be tested between $1.80 and $2.00 if the bullish momentum persists. A failure to hold support levels may trigger a correction toward $1.00.
