Mantle (MNT) price prediction: against the trend, big pump of 20% creates a new high for the month! on-chain activity surges 1600%

Against the backdrop of a general decline in the crypto market, Mantle (MNT) surged 20% on August 6, reaching an intraday high of $0.949, with a monthly increase of 66% and a market capitalization exceeding $3.1 billion. On-chain data shows that its daily trading volume skyrocketed by 37% (nearly $500 million), with futures open interest hitting a historical high of $52.6 million, and the Long-Short Ratio remaining above 1, indicating bullish sentiment. The technical side confirms a daily chart inverse head and shoulders breakout, with the key neckline at $0.85 turning into support. The fundamentals are driven by four major engines: 1) A newly established strategic ETH reserve quietly accumulated 101,867 ETH (worth $369 million), making it the eighth largest known ETH reserve; 2) On-chain stablecoin liquidity surged by 25% to $650 million in recent weeks; 3) Artemis data shows a monthly increase of 1600% in daily active addresses; 4) The appointment of two CEX executives as ecological advisors to strengthen institutional confidence.

Big Pump Against the Trend: MNT Rises 20% in a Single Day, On-Chain Volume Surges 37%

On August 6, while the crypto market faced widespread declines under the pressure of macroeconomic headwinds, Mantle (MNT) staged a strong rebound. According to Gate data, MNT rose 20% within the day to $0.949, eventually closing at $0.934. The token has currently rebounded 66% from last month's low, with a market capitalization exceeding $3.1 billion.

The rise of Mantle is accompanied by a significant increase in on-chain trading volume, with the daily volume surging by 37%, and the trading amount nearing 500 million USD.

The futures market provides support for the rise. According to CoinGlass data, Mantle's Open Interest (OI) has increased by 10% in the past 24 hours, reaching a historical peak of $52.6 million. At the same time, its Long-Short Ratio remains above 1, indicating that more traders are betting on further price increases.

This round of rise is particularly prominent against the backdrop of a more than 2% fall in the overall crypto market, with Bitcoin and Ethereum dropping 2% and 3.3% respectively during the same period. Risk assets such as cryptocurrencies continue to be suppressed by macro risks, including the escalation of global trade tensions, and recent tariff increases by the U.S. government on key imported goods have raised concerns about trade conflicts.

Technical Breakthrough: Daily chart confirms inverse head and shoulders pattern, target upwards at $1.18

After today’s big pump, MNT confirmed a breakout from the inverse head and shoulders pattern on the daily chart that has been ongoing for several months — this is usually a bullish reversal signal. The pattern consists of three distinct troughs: the central trough (the "head") is the lowest point (at 0.52 USD), with higher troughs on either side (the "shoulders").

The neckline (resistance level) is located at $0.85, a price point that has blocked price rises multiple times earlier this year. MNT successfully broke through this neckline today and retested it to confirm its conversion into new support level, reinforcing the bullish logic.

Technical indicators also point to more upside potential:

• 20-day Simple Moving Average (20-day SMA) has crossed above the 50-day Moving Average (50-day SMA), and the gap between the two continues to widen, which usually indicates an increase in trend strength.
• The MACD momentum indicator continues to rise and the divergence is increasing, indicating that the upward momentum is strengthening.
• The Relative Strength Index (RSI) shows an upward trend but has not yet entered the overbought zone, suggesting that the rise still has room for continuation.

Given the neckline breakout and positive momentum signals, the next key resistance target for MNT is 1.18 USD, representing a 27% upside potential from the current price level. However, achieving this target assumes that macro pressure does not significantly dampen market sentiment in the short term.

Four Major Engines Driving: ETH Reserves, Stablecoin Liquidity, On-Chain Activity, Talent Acquisition

The progress of multiple on-chain and ecosystem developments explains why Mantle outperformed the market today:

1. Strategic ETH Reserve Ranks Among the World's Best: On-chain analysis platform Lookonchain reports that the newly established Strategic ETH Reserve by Mantle has quietly accumulated 101,867 ETH. At the current Ethereum price of approximately $3,623, this reserve is valued at about $369 million, making it the eighth largest known ETH reserve holder. This substantial collateral asset helps ensure the financial stability of the protocol and supports ecological incentives such as hackathons, grant programs, and liquidity mining.
2. Stablecoin Liquidity Rises 25% Weekly: The liquidity of stablecoins on the Mantle network surged nearly 25% in the past week, reaching 650 million dollars. As stablecoins are typically the foundation of DeFi activities, the increase in their supply indicates that on-chain activities on the network are continuing to heat up.
3. Daily Active Addresses Surge by 1600% in a Month: According to a report by Artemis Analytics, the daily active address count of Mantle has grown an astonishing 1600% in just one month.
4. Core Talent Introduction Strengthens Confidence: Mantle has recently recruited two CEX executives to serve as ecological advisors, further boosting market confidence. These new members are expected to play a key role in expanding project infrastructure, attracting more institutional interest, and supporting Mantle's long-term vision of becoming a leading modular blockchain ecosystem.

Conclusion: The逆势 big pump of Mantle highlights the threefold resonance effect of "fundamentals + technicals + capital". The huge ETH strategic reserves build an asset moat, the expansion of stablecoin liquidity and the exponential growth of on-chain activity confirm the prosperity of the ecosystem, while the introduction of core talents injects a strong impetus into the institutionalization process. If the technical target of $1.18 is achieved, the MNT market capitalization will hit the $4 billion mark, but we must be wary of the potential impact of macro risks on the overall liquidity of the crypto market.