Mantel’s rise to the key resistance of $1.3; Is the rally continuing or is correction ahead?

study time:2minutes

With a steady rise from the lows of early December, the price of Mentel (MNT) has now reached a critical decision zone.

In this region, which had previously stopped upward efforts, the price has been suspended and this short stop has made traders follow the situation more carefully; Because such pauses are often the prelude to a big move.

Mentel’s main resistance is now around $1.30. Although the sellers are still active, they do not have enough strength to break the uptrend. The structure of the candles also indicates traders’ hesitation, not complete rejection of the move.

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If MNT can overcome the $1.30-1.33 resistance with strength, the bullish scenario will prevail and a quick move to higher levels, up to $1.45 is possible. On the other hand, if the price crosses this range, a short correction to the support range of $1.14-1.10 is likely.

For investors, this decision-making area is of great importance, and the status of the next few candles can determine the direction of MNT’s next move.