- MNT’s bull pennant suggests a +15% upside target to $0.85, backed by momentum indicators.
- Bollinger Band contraction signals a potential breakout after price consolidation.
- Accumulation base targeting $1 shows strong resistance near $0.77 and $0.90–$1 zones.
Mantle(MNT) is currently exhibiting strong technical signals that point toward a short-term bullish breakout. Two analysts have independently confirmed bullish formations supported by momentum indicators and price action structure.
Bull Pennant Aligns with Breakout Indicators
MNT’s 4-hour chart reveals a clear pennant formation emerging after a sharp impulse move upward. This setup reflects the classic continuation pattern where prices pause before advancing further in the same direction. The pattern structure appears after a strong rally from $0.665 to $0.755. Market analyst Trader Tardigrade provided a detailed technical analysis of this setup using both price structure and indicators.
Source: Trader Tardigrade
He identifies a well-formed bull pennant with converging trendlines between $0.710 and $0.755. This consolidation follows the steep flagpole rise that defines the pattern. In analyzing the trend, he identifies the target as $0.85 based on the measured flagpole height.
Following the breakout, Tardigrade confirms that the price could gain roughly +15% from its current range. Reviewing this chart setup, he finds tight candle structures within the pennant, reflecting low volatility, a common pre-breakout condition. Observing recent price behavior, Bollinger Band Width (BBW) is narrowing toward the 2.00 level. With momentum building, further insight into BBW’s current reading of 2.09 indicates volatility compression.
From this consolidation, he draws a connection to the previous BBW low around April 22. That move preceded a sharp rally. A similar contraction occurred again on May 1, marked visually with a pink circle and green arrow. From the price reaction, he suggests that this second BBW low may signal another bullish leg. Based on the current structure, he notes no invalidation signals, confirming the strength of the setup.
Accumulation Base Targets $1 Resistance.
A second chart analysis from Inmortal presents a broader accumulation base forming on the 8-hour timeframe. His analysis covers a longer price range from January to early May. This led the analyst to explore consolidation behavior above $0.70 following a three-month downtrend. He observes clear resistance at $0.77, where the price began forming a minor ascending triangle within the accumulation zone.
Source: Immortal
By tracking previous resistance levels, he explains that the $1.00 mark remains the upside target if a breakout confirms. After reviewing the latest formation, the analyst points out a green arrow projecting this move into a resistance block between $0.90 and $1.00.
At this stage of the structure, he comments on the triangular tightening pattern signaling compression before a potential breakout. Reviewing this chart setup, Immortal finds no indicators outside price action, adding precision to the pattern’s structure. This analysis builds a case for bullish continuation with distinct technical confirmation on both short and mid-term timeframes.
