The post Mantle surges15% to $0.85 then retraces to $0.78 appeared on BitcoinEthereumNews.com.

Key Takeaways MNT surged 21% in a week, driven by whale accumulation and bullish futures sentiment. Despite RSI cooling, strong buying and positive funding rates suggest potential for further upside. Mantle [MNT] has traded within an ascending channel since its breakout from a multi-month downtrend last week.  On daily charts, the altcoin surged from a low of $0.72 to a 2-month high of $0.85. After reaching these levels, MNT faced a solid rejection, leading to a retracement.  As of this writing, Mantle was trading at $0.7817, representing a 21.47% increase over the past seven days.  But MNT remains resilient despite rising market volatility.  Whales lead the charge  According to CryptoQuant, whale traders have dominated the market over the past 30 days, positioning the altcoin for a potential price rally.  Thus, the recent uptick can be attributed to a month-long accumulation by whales. This market scenario is evident in the fact that the Spot Average Order Size has been dominated mainly by large orders. When large holders dominate, it suggests that whales are aggressively participating in the spot market.  Source: CryptoQuant MNT has shown sustained buying activity, according to exchange flow data.  CoinGlass reports a Spot Netflow of -$4.3 million, indicating that more MNT is being withdrawn from exchanges than deposited. This negative netflow suggests ongoing accumulation, as traders move tokens into private wallets, often a bullish signal. Source: CoinGlass Often, when Netflow remains negative for an extended period, it suggests that most active market participants are accumulating. Historically, a higher buying spree has acted as a recipe for a price rally.  Futures are even more bullish  Interestingly, when we examine the derivatives market, we determine that most investors have entered the market to take a long position.  For starters, Mantle’s Open Interest jumped 9.2% to $28.8 million, at press time,…

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Filed under: News - @ July 19, 2025 3:23 am