Mantle token MNT continued its upward trend on Thursday, rising above $0.69 during the session, a nearly 10% increase for the day. This surge occurred during a general recovery in altcoins, accompanied by increased trading volume, and the market is also refocusing its attention on developments related to Real-World Assets (RWA) within the Mantle ecosystem.

Trading volume increased simultaneously

Data shows that MNT's recent upward movement has been accompanied by a significant increase in trading volume, rising 116% to approximately $46 million. The price had previously fallen to around $0.61, but after a continuous rebound, it is now approaching the $0.70 mark again.

From a technical perspective, the $0.70 level is both a psychological barrier and an area with concentrated short-term supply. The article mentions that if prices continue to rise, $0.71 will be the next resistance level to watch; support lies in the $0.60 to $0.57 range.

Ecological progress draws attention

In addition to the overall recovery in market sentiment, recent developments in the Mantle ecosystem are also considered a supporting factor. These include xStocks' integration of xChange (Atomic RFQ) on Mantle, the launch of $BILL, and KelpDAO's opening of rsETH withdrawal, cross-chain, and claim functions, all of which have increased market attention.

Meanwhile, discussions surrounding the RWA project are heating up. The report suggests that if the U.S. Securities and Exchange Commission (SEC) promotes blockchain-based tokenized stock trading in the future, institutional demand may increase further, and this expectation has also fueled the interest in the sector where Mantle operates.

In the short term, the focus remains on whether the price can hold above $0.70.

From a short-term perspective, the RSI remains bullish, and the MACD also shows a bullish signal, indicating that price momentum is still recovering. MNT has climbed back above $0.65 and is now above its short-term moving averages, which typically attracts more trend-following capital.

However, the article also points out that MNT has not yet completely escaped the pressure of a larger downtrend, and short sellers remain active near the intraday highs. In other words, although the short-term trend has improved, whether the $0.70 to $0.71 range can be effectively broken remains a key focus for the market going forward.