Key takeaways
What explains Mantle’s recent price drop?
A sharp 16% decline, led by dominant selling pressure and a break below key support at $1.45.
Could MNT recover from here?
A rebound is possible if buying pressure returns and the $1 level holds as psychological support.
Mantle (MNT) has been under heavy selling pressure over the past five days, seeing a steep decline of 16%, at press time, in the past 24 hours alone. This decline marks one of MNT’s most aggressive pullbacks in recent weeks.
As a result, the decline wiped out short-term gains and shook investor confidence across the market. The token recently swept through its key support level at $1.45, an area that was previously an area of strong demand for buyers.
With the price now surpassing the $1 mark, traders and investors are closely watching whether MNT can stabilize or if further decline is inevitable.
Source: TradingView
Retail traders remain active, but sellers dominate
Interestingly, the liquidation was not marked by a lack of participation. Data from CryptoQuant indicates that retail traders remain very active, but their presence has not been enough to offset the prevailing bearish momentum.
This imbalance suggests that while smaller traders continue to engage in the market, larger players and institutional participants may be offloading their positions or hedging against broader volatility.
Source: CryptoQuant
Despite the accumulation of buy orders, sellers continue to dominate the MNT spot and futures markets, indicating that the selling may persist.
This appears to be a structural decline, driven by deliberate distribution rather than panic selling.
Source: CryptoQuant
Market sentiment turns cautious
MNT’s current decline could be part of a broader reset phase for MNT after its previous price rallies.
If the $1.45 support fails to regain strength as a pivot zone, the next key test is around the psychological $1 level, which could serve as both a potential rebound point and a sentiment indicator.
However, if buying pressure returns and short sell-offs occur, a temporary rebound could ensue.
