Mantle (MNT) rebounded more than 6% on Aug. 19, pushing toward resistance near $0.46 as leveraged positions stacked up above the market. The rally coincides with expanding network metrics, including total value locked above $1 billion and a new Blockworks dashboard tracking Mantle's on-chain activity.
MNT climbed 6.6% to roughly $0.455 on Aug. 19, testing resistance at $0.4575, the 78.6% Fibonacci retracement of its decline from $0.7149 to $0.3874. The token has formed higher lows since bottoming near $0.39 in early August, briefly touching $0.467 on Aug. 13 before sellers pushed it back.
Momentum builds without turning overbought
The daily relative strength index stood at 58.46, above its signal average of 56.10 but short of the overbought threshold near 70. The MACD stayed positive, though the narrow gap between its lines suggested MNT still needs stronger momentum to confirm a breakout. On the four-hour chart, MNT reached $0.4547, close to the upper Bollinger Band at $0.4561, with the band's midpoint at $0.4409 acting as first support.
Liquidation clusters sit just above the market
CoinGlass data showed leveraged positions concentrated between $0.46 and $0.49, with denser bands from $0.475 to $0.49. A break above $0.4575 could force short sellers to buy back MNT, adding pressure toward that cluster. The nearest downside liquidity pool sits between $0.412 and $0.418, a zone MNT could revisit if it loses support and long positions start closing.
Network activity underpins the rally
Mantle's fundamentals have expanded alongside the price move. A Nansen Q2 report put the network's DeFi TVL above $1 billion after 230% growth in the first half of 2026, with stablecoin market cap reaching $955 million. Separately, a new Blockworks dashboard shows Mantle's total value secured has climbed to $1.42 billion from $330 million in 2023, alongside more than 256 million cumulative transactions.
MNT is also trading near $0.4522 after flipping its 50-day EMA, though the 200-day EMA near $0.60 marks the next major resistance. A close below the Bollinger midpoint at $0.4409 would weaken the setup and expose the lower band near $0.4257, while clearing $0.467 would open a path toward the $0.48–$0.49 liquidation cluster and Fibonacci resistance at $0.5125.
Sources: crypto.news, Coinpedia Fintech News
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