Cryptocurrency market’s recent surge continues to please many altcoin investors. Developments in blockchain ecosystems are accelerating blockchain projects and attracting investors to this field. What can be expected from popular recent projects like STX and MNT? Let’s examine together.
Stacks Technical Analysis
Bulls successfully defended the $2.77 level, which is the 20-day EMA, during Stacks’ correction. This indicates that bulls continue to buy the dips, showing strength. The strong surge on March 10th suggests bulls are back in full force, but the long wick on the candlestick indicates bears haven’t given up yet. Buyers need to push the price above $3.39 to signal a resumption of the uptrend. The STX/USDT pair could rise to $4.58 and eventually to the psychologically important $5 level.
The 20-day EMA remains a critical level to watch for a potential downward move. If bears pull the price below this support, it would indicate that bulls are losing control. The pair could then drop to the 50-day SMA, which is at $2.20.
The 4-hour chart shows a sharp rise after the price broke above the downtrend line. If the price rebounds strongly from the current level, it could increase the likelihood of breaking 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 $2.40 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, trying 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 start the next leg of the upward move to $1.37 and then to $1.50. This optimistic view could be negatively affected in the short term if the price drops below the 20-day EMA, which is at $0.91. The pair could fall 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 break above this level could indicate a recovery in momentum. Alternatively, if bears pull the price below $1.01, it would show a lack of demand at higher levels. There is minor support at the 50-day SMA, but if this level gives way, the pair could fall to $0.85.
