Foreign media: MNT rises to around $0.50, with futures open interest increasing concurrently
According to foreign media, Mantle token MNT has rebounded to around $0.50, with a daily increase of nearly 5%. This upswing has brought the price back above the short-term moving average and has focused the market’s attention on the resistance zone between $0.50 and $0.51.
Futures Data Amplifies in Tandem
Derivative data shows a clear rise in capital participation. MNT futures trading volume has climbed to approximately $18.25 million, up 99.27% from before; open interest has increased to about $40.36 million, a 17.35% rise. Spot trading volume has also reached roughly $11.40 million.
When price, trading volume, and open interest rise together, this usually indicates new positions entering the market. Based on this, the article suggests traders are preparing for larger swings. However, if the price fails to decisively break through $0.50, leveraged positions closing out may bring renewed selling pressure.
$0.50 to $0.51 Becomes the Short-Term Focus
The article notes that MNT dipped to the $0.36 to $0.38 range in July, then gradually stabilized and rebounded. The latest surge has lifted the price above the 20-day and 50-day exponential moving averages, improving short-term structure.
However, from a longer-term perspective, MNT remains in a descending channel. Foreign media believes only if the daily close is above $0.51 can it be considered an important signal for breaking out of the downtrend. If this level is truly overcome, the next upside target may be $0.55, with further potential toward $0.62.
RWA Narrative Provides Fundamental Support
Aside from price factors, Mantle has recently strengthened its layout for tokenized real-world assets and on-chain financial infrastructure. The article mentions the network is advancing strategies related to tokenized stocks and expanding its tokenized marketplace for financial products.
Mantle also integrated its Super Portal infrastructure with Chainlink CCIP to enhance cross-chain transfers and interoperability. The article believes this direction helps connect tokenized assets, DeFi liquidity, and multichain ecosystems, offering a clearer fundamental narrative for MNT.
Overall, this rebound has lifted MNT away from the July lows, but the $0.50 to $0.51 range remains the key area determining short-term trends. Until this level is decisively breached, MNT is closer to recovery after decline rather than a full trend reversal.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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