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The crypto market continues to see a rise, delighting many altcoin investors. Recent developments in blockchain ecosystems have accelerated the momentum of blockchain projects and directed more investors towards this field. So, what are the expectations for the popular projects STX and MNT? Let’s take a look together.
Stacks Technical Analysis
Bulls successfully defended the $2.77 level, which is the 20-day EMA average, during the correction in Stacks. This indicates a positive trend where bulls continue to buy the dips. The strong surge on March 10th suggests the bulls are back in full force, but the long wick on the candlestick indicates that bears have not given up yet. Buyers need to push the price above $3.39 to signal the start of a renewed uptrend. The STX/USDT pair could rise to $4.58 and eventually to the psychologically important $5 level.
The 20-day EMA average continues to be an important level to watch for a downward trend. If bears pull the price below this support, it will indicate that bulls have lost control. The pair could then drop to the 50-day SMA average of $2.20.
The 4-hour chart shows a sharp rise in price after breaking above the downtrend line. If the price rebounds strongly from the current level, it could increase the likelihood of a breakout above $3.39. Conversely, if the price continues to fall and drops below the moving averages, it could indicate that bears remain active at higher levels. The pair could retreat to the $2.40 level and then to $2.20.
Mantle Technical Analysis
Mantle is on the rise, but bears have not given up as seen by the long wick on the March 8th bar, attempting to halt the rally at $1.15. A slight advantage for buyers is that they have kept the price above the psychological $1 level. Rising moving averages and the RSI in the overbought zone indicate that bulls are in control.
If buyers push the price above $1.15, the MNT/USDT pair could initiate the next leg of the upward movement to $1.37 and then to $1.50. This optimistic view will be negatively affected in the short term if the price falls and goes below the 20-day EMA average of $0.91. The pair could drop to $0.85 and then to the $0.80 level.
Bulls are trying to turn the $1.01 breakout level into support. If they succeed, it will signal strong buying at lower levels. If buyers lift the price above $1.07, the pair could reach $1.15. A breakout above this level could indicate a recovery in momentum. Alternatively, if bears pull the price below $1.01, it will show a lack of demand at higher levels. There is also a minor support at the 50-day SMA average, but if this level gives way, the pair could fall to $0.85.
